How Often Pay Hawaii GE Tax?

Hawaii General Excise Tax (GET) Overview

• Hawaii has a General Excise Tax (GET) of 4% for most businesses.
• Oahu and Kauai have a 0.5% surcharge, while the Big Island has a 0.25% surcharge to fund projects.
• Filing frequency depends on total GET amount: monthly over $4,000, quarterly under $4,000, semi-annually under $2,000.
• GET forms are due the 20th of the month after the period ends.
• GET taxes paid can be deducted on federal taxes.

GE Tax Details

• GE Tax is akin to a sales tax on gross income, affecting low and high income families differently.
• Information on forms, exemptions, and classifications can be found on the Hawaii DOT website.
• A GE license is required for all business income.
• Various forms such as Form BB-1, G-45, and G-49 are necessary for reporting and paying taxes.

Further Details on Hawaii GE Tax

• Out-of-state sales may not owe Hawaii GE tax but could owe sales tax in another state.
• Most business expenses are deductible, similar to schedules C and E.
• GE IDs now begin with GE, and Form N-200V can be used for estimated payments.
• Both forms G-45 and G-49 are likely required for filing.

Additional Information

• Deductions can be taken in the year paid, not the year owed.
• Tax rates vary depending on the type of business activity.
• GE Tax applies to gross rents even if the rental operates at a loss.

Filing Procedures

• Hawaii businesses are required to file returns and payments online, with different processing times based on the submission method.
• GE taxes are levied on business revenues at every transaction, from manufacturing to retail.