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Hawaii Form Tax 940: What You Should Know

State of Hawaii Aloha, Taxation and reporting A common myth is that you can't withhold income, employment taxes, and social security taxes for Hawaii employers if you're located in another state. That's not necessarily true. In general, certain states have laws that prohibit the withholding of unemployment and social security taxes on wages that you paid to an unrelated individual unless the individual is a resident of those states. Hawaii and some states have laws against the withholding of income and employment tax. Some states, such as California, that have laws against withholding don't allow you to withhold any unemployment or social security tax. This includes the state of Washington, the country of Puerto Rico and the United States Virgin Islands (as in the case of a worker in Puerto Rico in the United States Virgin Islands who are subject to the income tax laws of the United States Virgin Islands). In order for you to comply with state income tax withholding laws, you'll want to have a properly completed income tax withholding declaration (Form 540) from the employer. If the employer does not have a Form 540, you need to prepare a separate one. Most states require the withholding of unemployment income tax only for an employee who works more than 35 hours in a calendar month. Generally, the state that is the “work” location for an employee is the “work” location for his or her employer. See the state tax withholding laws that may apply for wage withholding. If you work more than 35 hours in the states where you must file an income tax return and pay state tax, have the employer include with the Form 540 a statement identifying those states and their tax rates. You must have this statement even if you work in more than one state. Income Tax Deduction Worksheets (COA) for Employees of a company that owns 25 or more percent of the shares in another business that is subject to sales and use tax are eligible to make their employer's contribution to a federal or state income tax deduction. You can create an income tax deduction worksheet for each type of tax credit: an exemption, an allowance for sales or use tax, and a sales and use tax deduction. For the business of farming, a farm employment unit can elect to have all payments for unemployment compensation paid out as taxes on the income from farm products and livestock. Other types of employer contributions to pay taxes include employee contributions for unemployment compensation and state tax.

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