Hawaii Issues Revised Forms for Withholding and Business Registration

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.”