Overview
The N-301 form is an essential tool for businesses in Hawaii looking to request an automatic extension for filing their corporation income tax returns. Specifically designed for forms N-30, N-35, N-70NP, and N-310, this application allows corporations to extend their filing deadline by six months. It is important to note that while the N-301 grants additional time to file, it does not extend the time to pay any taxes owed. Taxpayers must accurately complete the form, including providing their Federal Employer Identification Number and any estimated tax balance due, to ensure a smooth processing experience. The form has been redesigned for electronic submission, enhancing efficiency and reducing errors. Guidelines for filling out the N-301 are straightforward: use only black or dark blue ink, print numbers clearly within designated boxes, and avoid using any dollar signs or other symbols. Filing can be done either through the mail or electronically via the State’s Internet portal. Understanding the requirements and adhering to the instructions on the N-301 form can help businesses avoid penalties and ensure compliance with Hawaii’s tax regulations.
Document Preview Example
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STATE OF HAWAII |
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APPLICATION FOR AUTOMATIC EXTENSION |
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(REV. 2010) |
OF TIME TO FILE
HAWAII CORPORATION INCOME TAX RETURN
(Including Filers of Forms
About this Form
The Form
1.Print amounts only on those lines that are applicable.
2.Use only a black or dark blue ink pen. Do not use red ink, pencil, or felt tip pens.
3.Because this form is read by a machine, please print your numbers inside the boxes like this:
1 2 3 4 5 6 7 8 . 9 0
4.Do NOT print outside the boxes.
5.Do NOT use dollar signs, slashes, dashes or parenthesis in the boxes.
6.Photocopying of this form could cause delays in processing your payment.
INTERNET FILING
Form
GENERAL INSTRUCTIONS
Note: The use of federal Form 7004 is not allowed as a substitute for Form
1.Purpose. — Use this form to ask for an automatic
An extension of time to file your income tax return will not extend the time to pay your income tax. Therefore, you must pay the income tax balance due (i.e., total income tax liability reduced by payments and credits) in full with this form.
Do not request an automatic extension if you are under a court order to file your return by the regular due date.
The extension will be granted if you complete this form properly, file it on time, pay with it the amount of tax shown on line 5 of the Income Tax Balance Due Worksheet and meet the conditions indicated on page 2.
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INCOME TAX BALANCE DUE WORKSHEET |
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Total properly estimated income tax liability for the taxable year |
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Note: You MUST enter an amount on line 1. If you do not expect to owe tax, enter zero (0). |
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Current year’s estimated tax payments (include prior year’s overpayment |
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allowed as credit) |
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Other payments and credits |
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Total (add lines 2 and 3) |
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Income tax balance due (line 1 minus line 4). Pay in full with this form |
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Pay amount on line 5 in full. Detach the voucher from this form. Attach check or money order to the voucher for full |
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amount payable to “Hawaii State Tax Collector.” Write your Federal Employer Identification Number and “2010 |
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Hawaii Department of Taxation, P.O. Box 1530, Honolulu, HI |
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— — — — — — DETACH HERE |
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Form (Rev. 2010) |
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STATE OF HAWAII — DEPARTMENT OF TAXATION |
DO NOT WRITE OR STAPLE IN THIS SPACE |
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2010 |
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APPLICATION FOR AUTOMATIC EXTENSION OF TIME TO FILE |
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HAWAII CORPORATION INCOME TAX RETURN
DO NOT SUBMIT A PHOTOCOPY OF THIS FORM
CKF101
Place an X here if this is a change of address.
Name
Dba or C/O
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For office use only |
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MAIL THIS VOUCHER WITH CHECK OR MONEY ORDER PAYABLE TO “HAWAII STATE TAX COLLECTOR.” Write your Federal Employer I.D. Number and “2010 Form
Federal Employer Identification Number (FEIN)
Calendar or Fiscal Year Ending (MM DD YY)
Amount of Payment
FORM |
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(REV. 2010) |
PAGE 2 |
In no case shall the extension be granted for a period of more than 6 months beyond the prescribed due date of the return.
For extension requirement purposes, Hawaii does not conform to Treasury Regs. section
An automatic extension of time for filing a return shall be allowed upon the following two conditions:
• You complete this form properly, file it, and pay any or properly estimated balance due on line 5 of the Income Tax Balance Due Worksheet by the prescribed due date for the return for which the extension applies.
• Within the time specified by the automatic extension, the return shall be filed, accompanied by payment of the tax to the extent not already paid.
One hundred percent of the properly estimated tax liability must be paid on or before the prescribed due date of your return. Properly estimated tax liability means the taxpayer made a bonafide and reasonable attempt at the time the extension was submitted to locate and gather all of the necessary information to make a proper estimate of tax liability for the taxable year. Payment of properly estimated tax liability will be presumed if the tax still owing after the prescribed due date of the return is 10 percent or less of the total tax shown as due on the return.
The Director of Taxation may terminate the automatic extension at any time by mailing a notice of termination to the entity or to the person who requested the extension for the entity. The notice will be mailed at least 10 days prior to the termination date designated in the notice.
Note: Only those taxpayers whose automatic extension has been rejected will be notified by the Department of Taxation.
2.How To Obtain Tax Forms. — To request tax forms and publications by mail, you may call
Tax forms are also available on the Internet. The Department of Taxation’s site on the Internet is: www.hawaii.gov/tax.
3.When to File. — File one copy of this application on or before the prescribed due date of the entity’s income tax return. If the prescribed due date falls on a Saturday, Sunday, or legal holiday file by the next regular workday.
You may file the applicable income tax return any time before the
4.Where to File. — File Form
5.Consolidated Returns. — If a consolidated return is to be filed, a parent corporation may request automatic extensions for itself and its
subsidiaries by filing one Form
6. How to Fill Out This Form.
• Enter the corporation’s name and address on the appropriate lines. • Using black or blue ink, enter the corporation’s FEIN, the date of
the end of the tax year, and the amount of the payment in the space provided.
• If no payment is being made with this form, enter “0.00” in amount of payment space.
• It is suggested that you make a photocopy of this form for your records before you detach the voucher. Do not, however, submit a photocopy of this form.
• Detach the voucher where indicated. Submit only the voucher portion of this form with your payment.
• Attach your check or money order payable to “Hawaii State Tax Collector” to the front of the voucher. Write your FEIN and “2010 Form
7.Making a Payment. — If a payment is being made with this form, make your check or money order payable to “Hawaii State Tax Collector.” Write your FEIN and “2010 Form
8.How to Claim Credit for Payment Made With This Form. — Show the amount paid (line 5) with this form on the applicable income tax return.
9.Penalties
Late Filing of Return. — The penalty for failure to file a return on time is assessed on the tax due at a rate of 5% per month, or part of a month, up to a maximum of 25%.
Failure to Pay After Filing Timely Return. — The penalty for failure to pay the tax after filing a timely return is 20% of the tax unpaid within 60 days of the prescribed due date. The
These penalties are in addition to any interest charged on underpayment or nonpayment of tax.
10.Interest. — Interest at the rate of 2/3 of 1% per month or part of a month shall be assessed on unpaid taxes and penalties beginning with the first calendar day after the date prescribed for payment, whether or not that first calendar day falls on a Saturday, Sunday, or legal holiday. Form
REASONS FOR REJECTION OF EXTENSION
1. The request was not in this office or mailed on or before the date prescribed by law for filing this return.
2. Separate requests are required for each type of tax and for each taxpayer involved.
3. The income tax return was not filed within the time specified by the automatic extension.
How to Fill Out N 301 Hawaii
Filling out Form N-301 is a straightforward process, but it’s essential to follow the instructions carefully to ensure your application for an extension is accepted. Once you have completed the form, you will need to submit it by the due date along with any necessary payment. Here’s how to fill out the form step-by-step:
- Begin by entering the corporation’s name and address in the designated spaces.
- Using a black or dark blue ink pen, fill in the Federal Employer Identification Number (FEIN).
- Provide the date that marks the end of the tax year.
- In the payment section, enter the amount you are paying. If no payment is being made, write “0.00”.
- It is recommended to make a photocopy of the completed form for your records before detaching the voucher. However, do not submit a photocopy.
- Detach the voucher portion of the form where indicated.
- Submit only the voucher with your payment. Attach your check or money order made out to “Hawaii State Tax Collector” to the front of the voucher.
- On your check or money order, write your FEIN and “2010 Form N-301”. Ensure payment is in U.S. dollars.
- Do not send cash with your submission.
- Mail the completed form and payment to the Hawaii Department of Taxation at P.O. Box 1530, Honolulu, HI 96806-1530, or file electronically through www.ehawaii.gov/efile.
After submitting the form, keep an eye on the deadlines. You’ll need to file your tax return within six months of the original due date. Remember, this extension does not apply to any payments owed, so ensure those are settled by the deadline as well.
Common mistakes
Filling out the N-301 form for an automatic extension of time to file Hawaii Corporation Income Tax Return can be a straightforward process, but there are common mistakes that individuals often make. Recognizing these pitfalls can save time and prevent unnecessary complications.
One frequent error is failing to enter an amount on line 1 of the Income Tax Balance Due Worksheet. This line requires the total properly estimated income tax liability for the taxable year. Even if a taxpayer expects to owe no tax, they must enter zero (0). Omitting this crucial step can lead to rejection of the extension request.
Another mistake involves the choice of writing instrument. Many people overlook the instruction to use only a black or dark blue ink pen. Using red ink, pencil, or felt-tip pens can cause issues with electronic scanning, resulting in delays. Adhering to this guideline is essential for ensuring the form is processed efficiently.
Printing numbers outside the designated boxes is another common error. The form is designed for machine reading, so it is important to print numbers clearly inside the boxes. Neglecting this detail can lead to misinterpretation of the information provided, which could delay processing.
Many individuals also mistakenly include dollar signs, slashes, dashes, or parentheses in the boxes. These symbols are not permitted and can confuse the automated processing system. It’s crucial to follow the instructions precisely to avoid complications.
Photocopying the N-301 form before submission may seem like a good idea for record-keeping, but it can lead to delays. The form is designed for single submission, and photocopies may not be processed correctly. Always ensure that the original form is used for submission.
Another common oversight occurs when individuals forget to pay the income tax balance due with the form. Even if an extension is requested, the tax balance must be paid in full. Failure to do so can result in penalties and interest charges, complicating the filing process further.
Lastly, not filing the form by the prescribed due date is a mistake that can have serious repercussions. If the due date falls on a weekend or holiday, it is important to file by the next business day. Missing this deadline can lead to rejection of the extension request.
By being aware of these common mistakes, taxpayers can navigate the N-301 form more effectively and ensure a smoother filing process. Attention to detail is key in avoiding unnecessary complications and ensuring compliance with tax regulations.
Documents used along the form
The N-301 form is a crucial document for corporations in Hawaii seeking an automatic extension to file their income tax returns. Along with this form, several other documents may be necessary to ensure compliance with tax regulations and to facilitate the extension process. Below is a list of commonly used forms and documents that accompany the N-301.
- Form N-30: This is the Hawaii Corporation Income Tax Return. Corporations must file this form to report their income, deductions, and tax liability. It is essential to submit this form within the extension period granted by the N-301.
- Form N-35: This form is used for filing the Hawaii Partnership Return of Income. Partnerships must complete this document to report their income and expenses, and it must be filed by the extended due date if an extension is requested.
- Form N-70NP: This is the Hawaii Income Tax Return for Corporations that are not subject to federal tax. It is used by specific types of corporations and must be filed in conjunction with the N-301 for an extension.
- Form N-310: This form is for Hawaii Corporation Tax Return for Exempt Organizations. Organizations that qualify for tax exemption must file this return, and if they are seeking an extension, they must also submit the N-301.
- Income Tax Balance Due Worksheet: This worksheet helps corporations estimate their tax liability for the year. It is crucial for determining the amount of tax that must be paid along with the N-301 form to avoid penalties.
- Marital Settlement Agreement: Corporations handling divorce-related matters may also need to prepare a Marital Settlement Agreement to formalize the division of assets and responsibilities during a divorce process.
- Payment Voucher: This is a detachable part of the N-301 form used for submitting payment. Corporations must attach their payment (check or money order) to this voucher when filing for an extension.
Understanding these forms and their purposes is vital for corporations seeking to navigate Hawaii's tax extension process effectively. Properly completing and submitting these documents can help avoid penalties and ensure compliance with state tax laws.
Other PDF Forms
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Obtain Answers on N 301 Hawaii
What is Form N-301 used for?
Form N-301 is an application for an automatic extension of time to file Hawaii corporation income tax returns. This includes returns for Forms N-30, N-35, N-70NP, and N-310. By submitting this form, a corporation can request an additional six months to file its tax return, even if it does not plan to make a payment at that time.
How do I file Form N-301?
Form N-301 can be filed either by mail or electronically. To file by mail, send the completed form to the Hawaii Department of Taxation at P.O. Box 1530, Honolulu, HI 96806-1530. If you prefer to file electronically, you can do so through the State's Internet portal at www.ehawaii.gov/efile . Ensure that you submit the form by the prescribed due date for your income tax return.
What are the payment requirements when filing Form N-301?
When filing Form N-301, you must pay any income tax balance due as indicated on line 5 of the Income Tax Balance Due Worksheet. This payment must be submitted along with the form. If no payment is being made, you should enter "0.00" in the payment section. It is important to note that filing the form does not extend the time for payment of income tax.
What happens if I miss the deadline to file Form N-301?
If Form N-301 is not filed by the prescribed due date, the request for an extension may be rejected. Additionally, penalties for late filing can apply, which may include a 5% penalty per month on the tax due, up to a maximum of 25%. Therefore, it is crucial to submit the form on time to avoid these penalties.
Can a parent corporation file Form N-301 for its subsidiaries?
Yes, a parent corporation can file one Form N-301 to request automatic extensions for itself and its subsidiaries. However, the parent corporation must list the name, address, and Federal Employer Identification Number of each subsidiary on an attachment to the form. This process does not count as an exercise of the privilege of making a consolidated return.
What should I do if my extension request is rejected?
If your extension request is rejected, you will receive a notification from the Department of Taxation. It is essential to address any issues as soon as possible to avoid penalties. Ensure that you file your income tax return by the regular due date or as soon as possible after the rejection to minimize any potential penalties.
Document Attributes
| Fact Name | Details |
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| Form Purpose | Used to request a 6-month extension to file Hawaii Corporation Income Tax Returns. |
| Governing Law | Hawaii Revised Statutes, Section 235-97. |
| Filing Deadline | Must be filed by the original due date of the income tax return. |
| Electronic Filing | Can be filed electronically through the State’s Internet portal. |
| Payment Requirement | Tax balance due must be paid in full with this form. |
| Penalties for Late Filing | 5% per month penalty on unpaid tax, up to a maximum of 25%. |
| Interest on Unpaid Tax | Interest of 2/3 of 1% per month on unpaid taxes and penalties. |
| Form Redesign | Redesigned for electronic scanning to reduce errors and speed up processing. |
| Consolidated Returns | A parent corporation can request extensions for itself and subsidiaries using one Form N-301. |
| Rejection Reasons | Late submission, missing information, or failure to file the return within the extension period. |
Misconceptions
1. The N-301 form automatically extends tax payment deadlines. This is false. The N-301 form only extends the time to file your return, not the time to pay any taxes owed. Payment must still be made by the original due date.
2. You can use federal Form 7004 instead of the N-301. This is incorrect. The federal Form 7004 is not accepted as a substitute for the N-301 form. You must use the specific N-301 form for Hawaii tax extensions.
3. You do not need to estimate your tax liability to file the N-301. This is misleading. You must provide an estimate of your tax liability. If you expect to owe tax, you need to enter an amount on the form.
4. Filing the N-301 electronically is not allowed. This is a misconception. The N-301 can be filed electronically through the State’s Internet portal, making the process quicker and easier.
5. You can submit a photocopy of the N-301 form. This is false. You must submit the original form only. Photocopies can cause delays in processing.
6. The extension is granted regardless of payment. This is incorrect. To receive the extension, you must pay the estimated tax balance due as indicated on the form.
7. All corporations can receive a 6-month extension without conditions. This is misleading. The extension is only granted if the form is completed properly and filed on time, along with the required payment.
8. You can file the N-301 after the due date without penalties. This is false. Filing after the due date can lead to penalties and interest on unpaid taxes.
9. You do not need to keep a copy of the N-301 form for your records. This is incorrect. It is recommended to keep a copy of the submitted form for your records, even though you should not submit a photocopy.
10. The N-301 form is only for corporations. This is a misconception. While primarily for corporations, the N-301 can also be used by certain entities filing specific forms like N-30, N-35, N-70NP, and N-310.
Key takeaways
The N-301 form is essential for corporations in Hawaii seeking an automatic extension for filing their income tax returns. Here are key takeaways to consider when filling out and using this form:
- Timely Submission: Ensure the N-301 form is filed on or before the due date of your income tax return to avoid penalties.
- Payment Requirement: Even if you request an extension, you must pay any balance due at the time of filing the N-301.
- Electronic Filing: The form can be filed electronically through the State’s Internet portal, streamlining the process.
- Proper Format: Use only black or dark blue ink when filling out the form. Avoid using red ink, pencil, or felt tip pens.
- Box Entries: Print numbers inside the designated boxes without using dollar signs or other symbols.
- Consolidated Returns: A parent corporation can request extensions for itself and its subsidiaries by filing a single N-301, listing all relevant details.
- Automatic Extension Conditions: The extension is granted only if the form is filled out correctly, filed on time, and the estimated tax balance is paid.
- Documentation: Keep a photocopy of the filled form for your records, but do not submit it.
- Penalties for Late Filing: A 5% penalty per month applies if the return is not filed on time, up to a maximum of 25%.
- Interest on Unpaid Taxes: Interest will accrue on unpaid taxes and penalties starting the day after the due date, regardless of weekends or holidays.
Understanding these key points can help ensure compliance and avoid unnecessary complications when filing your Hawaii corporation income tax return.