Unless your page is unusually large already or there are a lot of different forms like this that could be used from the same page, putting the HTML into the page and just starting out with it hidden gives you the advantage that all your markup is in one place (in the HTML file that represents your page) and can more easily be centrally maintained that way.
When you start putting markup into your javascript, you split up the maintenance of the markup between both the HTML of the page and the HTML that is embedded into your page.
If, on the other hand, you had a lot of these forms that were all slightly different that could all be used from the same page, then it gets messy to pre-specify all possible combinations of the form in the original HTML and you would probably be better off dynamically generating it via javascript or perhaps generating it from a template with slight modifications.