Hawaii state law and the accelerated deposit rules
Question
Thank you for your answer to my previous question: Hawaii still mirrors the Federal (IRS) requirements for Form 1099 (1099-DIV, INT, G, MISC, OID , PATR, and R) withholding. I have these follow-up questions: How does the Accelerated Deposit Rule apply to HI withholding deposits? I'm not clear if the deposits are required on the days we have the Fed deposits because our Fed withholding exceeds $100,000 or only when the HI withholding exceeds $100,000. Do other states have any specific instructions to clarify this requirement?
Answer
It appears that Hawaii follows the Federal rule, and we will get to why we believe that...
