What is G-49 tax return?
Form G-49 is a summary of your activity for the entire year. This return must be filed in addi- tion to Form G-45. You must file a Form G-45 even if you do not have any gross income to report for the period. Just write a zero (0) in each column of your main busi- ness activity and also on the “Total Taxes Due” line.
Do I have to file both g45 and G49?
All filers must file periodic returns (Form G-45) throughout the year, and an annual return and reconciliation (Form G-49).
What is the difference between G-45 and G-49?
What is the difference between the G-45 and the G-49 Forms? The G-45 is the ‘periodic’ form which is filed either monthly, quarterly, or semiannually. The G-49 is the annual or so called “reconciliation” form which is filed annually.
How are Hawaii GE taxes calculated?
The tax rate is 0.15% for Insurance Commission, 0.5% for Wholesaling, Manufacturing, Producing, Wholesale Services, and Use Tax on Imports For Resale, and 4% for all others.
How often do you file GE tax in Hawaii?
Filing Frequency You must file monthly if you will pay more than $4,000 in GET per year. You may file quarterly if you will pay $4,000 or less in GET per year. You may file semiannually if you will pay $2,000 or less in GET per year.
Is Hawaii general excise tax deductible?
From the Hawaii Tax Foundation: The Hawaii general excise tax is eligible for the state or local sales tax deduction for federal tax purposes on schedule A of form 1040. Remember that you can deduct only one – your state income taxes paid or your sale tax (in our case general excise tax) paid.
What is Ag 45 tax form?
The periodic returns (Form G-45) are used to report gross income, exemptions, deductions, and tax due on business activities periodically. They must be filed throughout the year at specified inter- vals. How often you file depends on the amount of general excise tax your business has to pay during the year.
What is Hawaii excise tax credit?
Hawaiʻi’s Refundable Food/Excise Tax Credit was created to help ease the tax burden on basic necessities. Currently, the credit does not automatically keep up with inflation, which means that the tax burden on basic necessities increases year after year, as living costs go up.
What is my GE tax Number Hawaii?
Hawaii Tax ID’s that were issued prior to the modernization project begin with the letter “W” and are followed by 10 digits. (Example: W99999999-01.) Hawaii SalesTax ID’s that are issued after the modernization project begin with the letters “GE” and are followed by 12 digits. (Example: GE-999-999-9999-01.)