Individual Income Tax Forms
Form N-11 Individual Income Tax Return Resident
Form N-13 Individual Income Tax Return Resident
Form N-15 Individual Income Tax Return Non Resident
Corporate Income Tax Forms
Form N-30 Corporation Income Tax Return
Sales Tax Forms
Form G45 General Excise – Use Tax Return
Property Tax Forms
Form N-288 Withholding Tax Return for Disposition by Non Resident
Hawaii Tax Forms: The Ultimate Guide
When it comes to paying taxes, Hawaii has some unique requirements that taxpayers should be aware of. Filing and paying taxes is a necessary aspect of finances, but dealing with tax forms and regulations can be complex. This article focuses on Hawaii tax forms and what individuals should know about them.
Introduction to Hawaii Taxes
As a state, Hawaii has its own tax system, which means taxpayers must comply with both federal and state tax rules. Hawaii has a state income tax and general excise tax (GET), which is imposed on revenue, not profit.
Federal taxes include income tax, Social Security tax, and Medicare tax. State taxes include income tax, GET, and transient accommodations tax (TAT), which is levied on short-term rentals.
Hawaii Income Tax
Hawaii has a progressive state income tax system, ranging from 1.4% to 11%. The tax rate is based on the taxpayer’s income and status as a single filer, head of household, married filing jointly, or married filing separately.
All Hawaii residents are required to file a state income tax return if they meet income thresholds. The threshold for single filers and married filing separately is $2,200, while the threshold for married filing jointly and head of household is $4,400.
Hawaii individual income tax returns are due on April 20th of each year, which is the same as the federal income tax deadline. Taxpayers can file their returns online through Hawaii Tax Online, or by mail using Form N-11, the Hawaii Individual Income Tax Return.
Form N-11, Hawaii Individual Income Tax Return
Form N-11 must be used by Hawaii residents to file their state income taxes. The form is used to report income, deductions, and credits, and to calculate the amount of tax owed.
The main sections of the form include:
– Personal
– Filing status
– Adjustments to Income
– Exemptions
– Taxable Income
– Hawaii Tax Calculation
– Credits
– Other Taxes
– Payments
– Refund or Amount Due
The form has several schedules that need to be filled out depending on the taxpayer’s situation. The most common schedules include:
– Schedule AMD, for taxpayers who claim itemized deductions
– Schedule D, for taxpayers who report capital gains or losses
– Schedule X, for taxpayers who claim additional exemptions
– Schedule CR, for taxpayers who claim refundable tax credits
It’s essential to note that Hawaii has a tax credit for low-income taxpayers, known as the food/excise tax credit, which can be claimed on Form N-11.
Hawaii General Excise Tax
The general excise tax is Hawaii’s version of a sales tax, but it’s different from most other states. Hawaii imposes the tax on gross income instead of net income, which means businesses must pay the tax even if they don’t make a profit.
The current GET rate in Hawaii is 4.5%, but certain counties have an additional surcharge. For example, the surcharge in Honolulu County is 0.5%, making the total GET rate in Honolulu 5%. Businesses are responsible for collecting and remitting the GET to the state.
Hawaii businesses are required to file annual, quarterly, or monthly GET returns based on their annual tax liability. The filing frequency is determined based on the taxpayer’s gross income and GET liability.
Form G-49, General Excise/Use Tax Return
Form G-49 is used to report general excise and use taxes in Hawaii. If a business has any GET liability, they must file Form G-49 either annually, quarterly, or monthly.
Form G-49 has several sections, including:
– Taxpayer Information
– Worksheet (to calculate liability)
– General Excise Tax Payment Vouchers
– Use Tax Payment Vouchers
– Attachment (for additional information)
It’s essential to note that the worksheet on Form G-49 is based on gross receipts, not net income. Businesses must report all income, including exempt sales, and can take deductions for certain expenses.
Hawaii Transient Accommodations Tax
Hawaii’s transient accommodations tax (TAT) is levied on short-term rentals, such as vacation homes, bed and breakfasts, and hotels. The TAT rate in Hawaii is 10.25%, but the rate differs for certain counties.
Businesses that rent out transient accommodations in Hawaii are required to register with the state and pay the TAT. The due date for TAT returns is the last day of the month following the end of the quarterly period.
Form TA-1, Transient Accommodations Tax Return
Form TA-1 is used to report transient accommodations tax in Hawaii. The form is filed quarterly and must be filed by businesses that rent out transient accommodations.
The form has several parts, including:
– Taxpayer Information
– Gross Rental Received for Transient Accommodations
– Administrative Fees
– Rental for Transient Accommodations Exempt from TAT
– Rent Received From Transient Accommodations Outside of Hawaii
– Common Expenses Allocation
– Taxable Rental Received for Transient Accommodations
– TAT Tax Calculation
– Other Taxes
– Payments
– Refund or Amount due
It’s essential to note that businesses can deduct common expenses that are related to transient accommodations from gross rental receipts.
Hawaii Tax Extensions
Taxpayers who need additional time to file their Hawaii state income tax return can request an extension by filing Form N-101A, the Application for Automatic Extension of Time to File Hawaii Individual Income Tax Return.
The extension will give taxpayers an additional six months to file their state income tax return, but it won’t extend the time to pay taxes. Taxpayers must estimate their tax liability and pay at least 80% of the estimated amount owed by the original due date. Failure to pay the estimated amount will result in penalty fees.
Conclusion
Hawaii tax forms can be complex, but understanding the requirements and deadlines is essential for taxpayers and businesses in the state. It’s essential to note that Hawaii has several unique tax regulations that differ from other states, such as GET being imposed on gross income, TAT on short-term rentals, and low-income tax credits.
Taxpayers should keep in mind the forms required for Hawaii individual income tax, general excise tax, and transient accommodations tax, and the specific schedules involved for each form. These include Form N-11 for individual income tax, Form G-49 for general excise tax, and Form TA-1 for transient accommodations tax.
By staying up to date on the latest requirements and deadlines, taxpayers can avoid penalty fees and ensure compliance with Hawaii’s tax regulations. For detailed information on taxes and forms in Hawaii, taxpayers can consult the Hawaii Department of Taxation website.
