The Form N-301 serves as the Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return, including for those filing Forms N-30, N-35, N-70NP, and N-310. This form enables corporations in Hawaii to request a six-month extension for filing their income tax returns, hence avoiding penalties due to late submissions. It's designed for electronic scanning, promoting quicker processing and reduced errors. To simplify the process and ensure timely filing, businesses are encouraged to file Form N-301 electronically through the state's internet portal.
For detailed instructions and to submit your Form N-301 efficiently, click the button below.
Filing taxes is a crucial responsibility for corporations in Hawaii, and sometimes additional time is needed to ensure accuracy and completeness of the tax return. The Form N-301 serves as a lifeline for businesses seeking extra time to file their Hawaii Corporation Income Tax Return. As an application for an automatic 6-month extension, this form accommodates various filers, including those submitting Forms N-30, N-35, N-70NP, and N-310. It has been redesigned to facilitate electronic scanning, promoting a quicker, error-free processing. It is imperative that businesses adhere to the specific guidelines, such as using black or dark blue ink and not photocopying the form, to avoid processing delays. Notably, an extension to file is not an extension to pay any taxes due, emphasizing the need to estimate and pay any owed taxes with the submission of the form. Additionally, the form can be filed electronically, which is encouraged for its efficiency. Detailed instructions on the form guide businesses through estimating tax liabilities, making payments, and ensuring they meet the conditions for the extension. Failure to comply with these could lead to penalties, including those for late filing or payment. Hence, understanding the Form N-301 is essential for corporations aiming to navigate the complexities of tax extensions and avoid potential financial or legal repercussions.
FORM
N-301
STATE OF HAWAII –– DEPARTMENT OF TAXATION
APPLICATION FOR AUTOMATIC EXTENSION
(REV. 2010)
OF TIME TO FILE
HAWAII CORPORATION INCOME TAX RETURN
(Including Filers of Forms N-30, N-35, N-70NP and N-310)
About this Form
The Form N-301 has been redesigned for electronic scanning that permits faster processing with fewer errors. In order to avoid unnecessary delays caused by manual processing, taxpayers should follow the guidelines listed below:
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 N-301 can be filed electronically through the State’s Internet portal. For more information, go to www.ehawaii.gov/efile.
GENERAL INSTRUCTIONS
Note: The use of federal Form 7004 is not allowed as a substitute for Form N-301, Application For Automatic Extension of Time To File Hawaii Corporation Income Tax Return.
1.Purpose. — Use this form to ask for an automatic 6-month extension of time to file Form N-30, N-35, N-70NP, or N-310. File this form to request an extension even if you are not making a payment.
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.
INCOME TAX BALANCE DUE WORKSHEET
1
Total properly estimated income tax liability for the taxable year
Note: You MUST enter an amount on line 1. If you do not expect to owe tax, enter zero (0).
2
Current year’s estimated tax payments (include prior year’s overpayment
allowed as credit)
3
Other payments and credits
4
Total (add lines 2 and 3)
5
Income tax balance due (line 1 minus line 4). Pay in full with this form
Pay amount on line 5 in full. Detach the voucher from this form. Attach check or money order to the voucher for full
amount payable to “Hawaii State Tax Collector.” Write your Federal Employer Identification Number and “2010
Form N-301” on the check or money order. Pay in U.S. dollars drawn on U.S. bank. Do not send cash. File with the
Hawaii Department of Taxation, P.O. Box 1530, Honolulu, HI 96806-1530, or file electronically through www.ehawaii.
gov/efile.
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— — — — — — DETACH HERE
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Form (Rev. 2010)
Tax Year
STATE OF HAWAII — DEPARTMENT OF TAXATION
DO NOT WRITE OR STAPLE IN THIS SPACE
2010
APPLICATION FOR AUTOMATIC EXTENSION OF TIME TO FILE
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
Address
Suite Number
City, town, or post office
State
Postal/ZIP Code
Country
For office use only
MAIL THIS VOUCHER WITH CHECK OR MONEY ORDER PAYABLE TO “HAWAII STATE TAX COLLECTOR.” Write your Federal Employer I.D. Number and “2010 Form N-301” on your check or money order.
Federal Employer Identification Number (FEIN)
Calendar or Fiscal Year Ending (MM DD YY)
Amount of Payment
FORM N-301
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 1.1502-76. For Hawaii income tax purposes, a corporation shall not be allowed an extension beyond 6 months. Corporations required to file a short year federal return under the above regulation and not able to file their Hawaii return on time should request an extension for the short year on or before the twentieth day of the fourth month following the end of the short year. Attach a letter of explanation to the front of the Hawaii return when it is filed.
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 808-587-4242 or toll-free 1-800-222-3229.
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 6-month period ends.
4.Where to File. — File Form N-301 with the Hawaii Department of Taxation, P. O. Box 1530, Honolulu, Hawaii 96806-1530. Form N-301 can be filed electronically through the State’s Internet portal. For more information, go to www.ehawaii.gov/efile.
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 N-301. In such case, the name, address, and Federal Employer Identification Number of each member of the affiliated group for which the extension is desired must be listed on an attachment to Form N-301. The filing of this form by a parent corporation is not considered as an exercise of the privilege of making a consolidated return.
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 N-301” on your check or money order. Pay in U.S. dollars. Do not send cash.
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 N-301” on it. Attach your check or money order to the front of Form N-301.
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 60-day period is calculated beginning with the prescribed due date even if the prescribed due date falls on a Saturday, Sunday, or legal holiday.
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 N-301 does not extend the time for payment of income tax. Interest will be computed on the sum of the tax due and penalties imposed on the late filing of the return or payment of the tax.
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.
Filling out the N-301 Hawaii form is a straightforward process designed to request an automatic 6-month extension to file certain Hawaii Corporation Income Tax Returns. It's important to complete this form correctly to ensure your extension is granted without delay. Follow these steps carefully to complete the form accurately and comply with all requirements.
Remember, an extension to file your return does not extend the time to pay your income tax. To avoid potential interest and penalties, ensure you estimate and pay any tax due by the original due date of your return.
Frequently Asked Questions (FAQs) about Form N-301: Application for Automatic Extension of Time To File Hawaii Corporation Income Tax Return
Form N-301 is used to request an automatic 6-month extension to file your Hawaii corporation income tax return. This includes filers of Forms N-30, N-35, N-70NP, and N-310. It's important to note that getting an extension to file does not extend the time to pay any taxes due.
Yes, Form N-301 can be filed electronically through the State of Hawaii’s Internet portal. For more information and to file electronically, visit www.ehawaii.gov/efile.
You must file Form N-301 on or before the prescribed due date of your entity’s income tax return. If the due date falls on a Saturday, Sunday, or legal holiday, file by the next regular workday. You can file your income tax return anytime before the end of the 6-month extension period.
If not filing electronically, send Form N-301 to the Hawaii Department of Taxation, P.O. Box 1530, Honolulu, Hawaii 96806-1530.
If you're making a payment with Form N-301, attach a check or money order payable to “Hawaii State Tax Collector.” Write your FEIN and “Form N-301” on your check or money order. Always pay in U.S. dollars drawn on a U.S. bank and never send cash.
Show the payment made with Form N-301 on the applicable income tax return. This will typically be entered on the line for total payments and credits toward your tax liability.
The penalty for late filing is 5% per month, or part of a month, of the unpaid tax due, up to a maximum of 25%. For failure to pay the tax when due, the penalty is 20% of the unpaid tax if not paid within 60 days of the due date. These penalties are in addition to any interest charged for underpayment or nonpayment of tax, which is assessed at a rate of 2/3 of 1% per month.
Filling out the Form N-301, the Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return, may seem straightforward. However, people often make mistakes that can lead to delays or even the rejection of their extension request. Understanding these common errors can help ensure that the process goes smoothly.
Ensuring these common mistakes are avoided can help streamline the process of requesting an extension for filing Hawaii Corporation Income Tax Returns. Being diligent, paying attention to detail, and following the instructions carefully can prevent unnecessary complications.
When preparing to file the N-301 Hawaii form, an Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return, individuals often need to gather additional documentation to ensure a comprehensive and compliant submission. The following documents commonly accompany Form N-301, each serving a specific purpose in the tax filing process.
Understanding the role of each document and form is crucial for corporations to navigate their tax responsibilities effectively. It ensures that all necessary information is communicated to the Hawaii Department of Taxation, facilitating a smoother process for obtaining an extension and fulfilling tax obligations. For accurate and timely filing, businesses should consider consulting with a tax professional familiar with Hawaii tax laws and requirements.
The N-301 Hawaii form shares similarities with several other forms related to tax filings and extensions at both federal and state levels. One noteworthy document it resembles is the IRS Form 7004, which is used to request an automatic extension of time to file certain business income tax, information, and other returns at the federal level. While Form N-301 is specific to the State of Hawaii for corporation income tax returns, including those filing Forms N-30, N-35, N-70NP, and N-310, Form 7004 serves as a broader instrument applicable to a variety of entities including corporations, partnerships, trusts, and estates at the federal level. Both forms are designed to facilitate the process of requesting more time to file a detailed and accurate return without extending the time for any tax payments due. They require basic information about the filer, the tax period, and the estimated amount of tax due if applicable. However, it is important to note that unlike Form 7004, the use of Form N-301 does not extend the time to pay the income tax due.
Another document that resembles the N-301 Hawaii form is the Form IT-303 domicile in states other than Hawaii, specifically for obtaining an extension to file a state income tax return. Similar to the N-301, Form IT-303 allows businesses and individuals more time to file their state returns to ensure the accuracy and completeness of their filings. Both forms typically mandate the submission by a specific deadline, usually the original due date of the return, and encourage filers to pay any estimated taxes owed to avoid penalties and interest. This similarity underscores a common goal shared by tax authorities at different levels: to provide taxpayers with flexibility while ensuring that tax liabilities are adequately estimated and addressed in a timely manner.
When preparing to fill out the N-301 Hawaii form, certain practices can help ensure your application is processed smoothly and without delay. Here's what you should and shouldn't do:
One common misconception is that filing Form N-301 extends the time for payment of income tax as well as the time to file. However, this isn't accurate. While Form N-301 does grant an automatic 6-month extension to file the Hawaii Corporation Income Tax Return, it does not extend the time for paying the tax due. Taxes owed must still be paid in full with the form to avoid penalties and interest charges for late payment.
Another misunderstanding is believing that federal Form 7004 can substitute for Form N-301 to request an extension for filing a Hawaii Corporation Income Tax Return. This is not the case; the state of Hawaii requires the specific use of Form N-301 for this purpose, and federal extensions are not recognized as valid for state tax purposes.
Some think that the form can be submitted in any ink color or photocopies can be used. The instructions clearly state that amounts should be printed using a black or dark blue ink pen, and photocopies of this form may cause delays in processing. Red ink, pencil, or felt tip pens are not acceptable, and original forms must be used to avoid processing issues.
There's also a misconception that electronic filing is optional or not preferred. On the contrary, the form encourages electronic filing through the state's internet portal for faster processing and fewer errors. Electronic filing is not only offered as an option but is presented as a preferred method, likely due to its efficiency and the reduced risk of errors that can delay processing.
Understanding the Form N-301 for Hawaii Corporation Income Tax Returns is crucial for compliance and efficient processing. Here are key takeaways to guide you:
Adhering to the specified guidelines and deadlines is vital for the smooth processing of your tax extension requests and payments. Prompt action and careful attention to detail can prevent unnecessary complications and ensure that your corporation remains in good standing with Hawaii tax regulations.
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