The General Excise Tax (GET) is a fee charged to companies in Hawaii for the right to conduct business there. Every commercial activity, including the sale of commodities, services, or real estate rentals, is subject to the GET. The GET must be filed and paid on a regular basis if you own a business in Hawaii.
The quantity of your taxable sales and gross income determines how frequently you must file the GET in Hawaii. You must file and pay the tax quarterly if your GET liability is under $4,000 per year. If your yearly GET liability is $4,000 or more, you must file and pay the tax on a monthly basis. If your GET liability exceeds $2,000,000 annually, you must file and pay the tax on a semi-monthly basis.
Through the Hawaii Tax Online (HTO) platform, you can pay your GET liability. You can submit your GET returns and make payments online using the HTO system. You can pay someone straight from your bank account by using the Electronic Funds Transfer (EFT) option.
You must first register with the Hawaii Tax Online (HTO) system in order to submit your G-45 form online in Hawaii. Once registered, you can use the HTO system to log in and submit your G-45 form online. You can also pay your GET obligation online via the HTO system.
You must submit a General Excise/Use Tax Return (Form G-45) to the Hawaii Department of Taxation in order to report your GE tax to that state. You must disclose your gross income and taxable sales for the reporting period on the G-45 form. Additionally, you need to figure out how much GET you owe for the reporting period and pay the tax.
The general excise tax must be paid in Hawaii by all companies and people conducting business. This covers people, partnerships, businesses, LLCs, and other organizations operating in Hawaii. Since the GET is a privilege tax, it isn’t firmly connected to any particular transaction or activity. It is assessed on all commercial endeavors conducted within the state, regardless of whether they are successful or not.
No, there is no automatic extension for Hawaii for reporting GE taxes. Taxpayers must submit an extension request and an estimated payment by the return’s original due date.
For each month or portion of a month that your GE tax return is late, up to a maximum penalty of 25%, you will be penalized in Hawaii. The penalty is equal to 5% of the unpaid tax. In addition, from the deadline until the day the tax is fully paid, interest will be charged on any outstanding taxes.