You must submit a 1099-G form with your federal income tax return if you reside in Hawaii and received unemployment benefits or state tax refunds in the preceding year. The 1099-G form lists all of the state tax refunds or unemployment benefits you’ve received, which you might need to declare as taxable income.
1. Log in to your account on the Hawaii Department of Labor and Industrial Relations (DLIR) website at https://huiclaims.hawaii.gov.
3. Next, choose “View/Print 1099-G” from the menu. You will be able to view your 1099-G for the current or previous tax year using this. You can download and print your 1099-G form for your records after you’ve accessed it.
It is significant to note that you will receive two distinct 1099-G forms if you earned unemployment compensation from both the state of Hawaii and the federal government. On your federal income tax return, you must disclose the total benefits you got from both sources.
If you operate a business in Hawaii, you might additionally need to file general excise tax in addition to getting your 1099-G form. Separate from the state income tax, the general excise tax in Hawaii is a tax on the gross revenue of enterprises.
The distinction between G-45 and G-49 relates to the various general excise tax forms that Hawaii firms may be required to utilize based on their particular circumstances. For firms with annual gross income under $100,000, the general excise tax return form is G-45; for those with annual gross income over $100,000, the form is G-49.
The Institute on Taxation and Economic Policy’s research indicates that General Electric (GE) did not pay any federal income taxes in 2018. While GE did have to pay state taxes in some jurisdictions, it was able to offset its federal tax bill using a variety of tax credits and deductions.
In conclusion, using the Hawaii DLIR website to receive your 1099-G form online is a quick and easy process. If you run a business in Hawaii, you might additionally need to apply for a Hawaii tax ID number and file general excise tax using the relevant form. Additionally, it’s critical for people and businesses to understand their tax responsibilities and pay their taxes accurately and on time, even if certain organizations, like GE, may be able to decrease their federal tax due.
A license from the State of Hawaii Department of Taxation known as a “Hawaii GE Tax License” enables companies to collect and remit the General Excise Tax (GET) in the state of Hawaii. The license is necessary in order to lawfully run a business in the state of Hawaii, and the GET is a tax on the gross income of companies there.