Hawaii Issues Revised Forms for Withholding and Business Registration

January 25, 2019 Tom Hospod

The Hawaii Department of Taxation has released revised versions of Form VP-1, Tax Payment Voucher; Form BB-1, Basic Business Application; and Form N-1, Declaration of Estimated Income Tax for Individuals. Filers should use these versions of the forms, as the prior versions are now obsolete.

The only change to the VP-1 is that if a payment is submitted with a return, including general excise/use; transient accommodations; withholding; and rental motor vehicle, tour vehicle & car-sharing vehicle surcharge, filer should not attach Form VP-1 to the tax return.

There are no changes to the BB-1 relative to registering for withholding tax.

The following changes have been made to N-1:

  • Hawaii did not adopt the federal provision relating to the deduction for qualified business income.
  • Taxpayers may deduct an amount for personal exemptions.
  • If you are making a tax payment for a composite Form N-15, check the box for Composite Taxpayer. Enter “Partners” or “Shareholders” in the space provided for the first name. Enter the partnership’s or the S corporation’s name in the space provided for the last name. Enter the partnership’s or S corporation’s federal employer identification number in the space provided for the social security number in social security number format (i.e., 123-45-6789).
  • Taxpayer must now indicate on the N-1 whether it is a “composite taxpayer.”

About the Author

Tom Hospod

Tom Hospod is a member of the Tax Research Team for the Direct Tax division at Sovos Compliance, where his main areas of focus are Tax Withholding and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. He also has experience in securities law—focusing on broker-dealer disputes and representing clients in FINRA arbitration. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.

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