Hawaii Application for Tentative Refund of Withholding on Dispositions by Nonresident Persons on Property Interest

Application for Tentative Refund of Withholding on Dispositions  by Nonresident Persons on Property Interest
Form N-288C, Rev. 2022, Application for Tentative Refund of Withholding on Dispositions by Nonresident Persons of Hawaii Real Property Interests
Clear Form
FORM

N-288C
(REV. 2022)

STATE OF HAWAII—DEPARTMENT OF TAXATION

APPLICATION FOR TENTATIVE REFUND OF WITHHOLDING
ON DISPOSITIONS BY NONRESIDENT PERSONS OF HAWAII
REAL PROPERTY INTERESTS

THIS SPACE FOR DATE RECEIVED STAMP

For Tax Year Ending
(NOTE: References to “married” and “spouse” are also references to “in a civil union” and “civil union partner,” respectively.)
NOTE:	 DO NOT file this form unless you have received notification from the Department of Taxation that we have received your
withholding payment.

	

Check only ONE box:

 Name	

	Individual	

 Spouse’s Name	

	Corporation	

	Trust	

	

Last Name	

	

Spouse’s Last Name	

	Partnership	

	

	Estate

Suffix	

 Your Social Security Number

Suffix	

 Spouse’s Social Security Number

 Name (Corporation, Partnership, Trust, or Estate)					

 Federal Employer I.D. No.

 Trade Name/Doing Business As (DBA) Name or C/O					

Daytime Phone No.

					(   )

 Mailing Address (number and street)
 City or Province	

State 		

Postal/ZIP Code		

Description of Hawaii real property transaction:

b. 	
	
	
	

a. Date of transfer (mm dd yyyy)
c. Tax map key number	
d. County where property is located	

Country

Location and general description of property
___________________________________________________
___________________________________________________
___________________________________________________

Was the property used at anytime as a rental?  Yes 
  If yes, enter your Hawaii Tax I.D. Number: GE __ __ __ -__ __ __ -__ __ __ __ - __ __
  No 
and indicate the start date and end date of the rental activity: (month, day, year) ____________________ to (month, day, year) ____________________
1.	 Enter the amount withheld on Form N-288A. (Attach a copy of Form N-288A).................................................................	

1•

2.	 Sales price (Attach final sales statement)..........................................................................................................................	

2

3.	 Purchase price of property (Attach final purchase statement).......................................... 	

3

Improvements (Attach schedule)..................................... 	 4
Selling expenses.............................................................. 	 5
Other (Attach list and schedule)....................................... 	 6
Total Additions — Add lines 4 thru 6. ............................................................................. 	

7

8.	 Depreciation (Attach schedule)........................................ 	 8
9.	 Other (Attach list and schedule)....................................... 	 9
10.	 Total Subtractions — Add lines 8 and 9. ....................................................................... 	

10

4.	
5.	
6.	
7.	

11.	 Adjusted basis of property. (Line 3 plus line 7, minus line 10)...........................................................................................	

11

12.	 Gain. Line 2 minus line 11 (See Instructions for installment sales)....................................................................................	

12

13.	 Enter the tentative tax on the gain (See Instructions)........................................................................................................	 13 •
14.	 REFUND of amount withheld. Line 1 minus line 13. (This line MUST be filled in.) ........................................................	 14 •

Please
Sign
Here

I hereby declare under penalties provided by section 231-36, HRS, that I have examined this application and accompanying attachments, and, to the best of my knowledge and
belief, they are true, correct, and complete.

___________________________________ 	 __________________________	 ___________________
___________________________________ 	 __________________________	 ___________________
	

Signature	

Title (If applicable)			

Date

	

Signature	

Title (If applicable)			

Date

		
N288C_I 2022A 01 VID01

288CE3T4

ID NO 01

FORM N-288C (REV. 2022)

FORM N-288C INSTRUCTIONS
(REV. 2022)		

General Instructions

Specific Instructions

Purpose of Form
Use Form N-288C to apply for a refund of the amount
withheld on dispositions by nonresident persons of Hawaii
real property interests which is in excess of the transferor/
seller’s tax liability for the transaction. It is not mandatory
to file Form N-288C. Form N-288C should be filed if the
Hawaii income tax return (Form N-15, N-20, N-30, N-35,
or N-40) for the year is not yet available. If available, the
transferor/seller should file the appropriate tax return instead of filing Form N-288C. However, if the transferor/
seller’s tax year has not ended, the transferor/seller may
file Form N-288C. Also, Form N-288C will be rejected if it
is filed after the due date of the tax return.
IMPORTANT: If Form N-288C was filed, the transferor/seller must still file a Hawaii income tax
return (Form N-15, N-20, N-30, N-35, or N-40) after the end of the taxable year, report the entire
income for the year (from other sources as well
as the transaction), and pay any additional tax
due on the income or request a refund. You must
file the same filing status on Forms N-288C and
N-15.

Who May File an Application
The transferor/seller may file Form N-288C.

Where to Send Form N-288C
File Form N-288C with the Hawaii Department of Taxation (Department). See the bottom of page 2 for the mailing address.

NOTE: Before you begin to fill in Form N-288C, you
should review the notification you received from the
Department that we received your withholding payment to make sure that the information is correct. If
any information is not correct, please return a corrected copy of the notification to the Department.
At the top of Form N-288C, enter the taxable year ending of the transferor/seller.
If your mailing address has changed, you must notify
the Department of the change by completing Form ITPSCOA, Change of Address Form. Failure to do so may delay any important notices or correspondence to you.
Enter the name, address, and identification number
(social security number or federal employer I.D. number),
if any, of the transferor/seller. The name and identification number entered MUST be the same as the name and
identification number entered for the transferor/seller on
Form N-288A, or as corrected on the copy of the notification you returned to the Department. If the transferor/seller was issued an individual taxpayer identification number
(ITIN) by the IRS, enter the ITIN.
CAUTION: You must provide a valid tax identification number in order for a tentative refund application to be processed. If you do not have one, you
must file a State income tax return (e.g., Form N-15)
in order to obtain a refund, which can be filed only
after your taxable year has ended. Attach to Form
N-288C a copy of the escrow closing documents or
other documents substantiating the amount of State
income tax withheld, schedule of improvements with

Tax Rate Schedules
Schedule I

SINGLE INDIVIDUALS AND MARRIED INDIVIDUALS FILING SEPARATE RETURNS
If the taxable income is:	
The tax shall be:
Not over $2,400.................................................................. 1.40% of taxable income
Over $2,400 but not over $4,800........................................ $34.00 plus 3.20% over $2,400
Over $4,800 but not over $9,600........................................ $110.00 plus 5.50% over $4,800
Over $9,600 but not over $14,400...................................... $374.00 plus 6.40% over $9,600
Over $14,400 but not over $19,200.................................... $682.00 plus 6.80% over $14,400
Over $19,200 but not over $24,000.................................... $1,008.00 plus 7.20% over $19,200
Over $24,000...................................................................... $1,354.00 plus 7.25% over $24,000

Schedule II

MARRIED INDIVIDUALS FILING JOINT RETURNS AND CERTAIN WIDOWS AND WIDOWERS
If the taxable income is:	
The tax shall be:
Not over $4,800.................................................................. 1.40% of taxable income
Over $4,800 but not over $9,600........................................ $67.00 plus 3.20% over $4,800
Over $9,600 but not over $19,200...................................... $221.00 plus 5.50% over $9,600
Over $19,200 but not over $28,800.................................... $749.00 plus 6.40% over $19,200
Over $28,800 but not over $38,400.................................... $1,363.00 plus 6.80% over $28,800
Over $38,400 but not over $48,000.................................... $2,016.00 plus 7.20% over $38,400
Over $48,000...................................................................... $2,707.00 plus 7.25% over $48,000

Schedule III

HEAD OF HOUSEHOLD
If the taxable income is:	
The tax shall be:
Not over $3,600.................................................................. 1.40% of taxable income
Over $3,600 but not over $7,200........................................ $50.00 plus 3.20% over $3,600
Over $7,200 but not over $14,400...................................... $166.00 plus 5.50% over $7,200
Over $14,400 but not over $21,600.................................... $562.00 plus 6.40% over $14,400
Over $21,600 but not over $28,800.................................... $1,022.00 plus 6.80% over $21,600
Over $28,800 but not over $36,000.................................... $1,512.00 plus 7.20% over $28,800
Over $36,000...................................................................... $2,030.00 plus 7.25% over $36,000

MAILING ADDRESS
HAWAII DEPARTMENT OF TAXATION
P. O. BOX 1530
HONOLULU, HAWAII 96806-1530

PAGE 2
contracts, invoices, receipts, IRS Form 8824 for likekind exchange, depreciation schedule and any other
supporting documents. You must also report all
other Hawaii sourced income and Hawaii tax withholdings, as well as any deductions or credits that
you may have.
Enter the information describing the Hawaii real property transaction. In b, enter the address and description of
the property. In c, enter the tax map key number. In d, enter the name of the county where the property is located.
Line 2. Enter the gross sales price. Attach a copy of your
final sales statement.
Line 3. Enter the purchase price of the property. Attach a
copy of your final purchase statement.
Line 4. Cost on improvements of the property, if any. Attach schedule.
Line 5. Selling expense (i.e. commissions, state transfer
taxes, etc.).
Line 6. Other costs. Attach list and schedule.
Line 7. Add lines 4, 5 and 6.
Line 8. Depreciation. Attach schedule.
Line 9. Other subtractions. Attach list and schedule. Do
not include any carryforward losses, net operating losses,
suspended passive activity losses or IRC section 121 exclusion. These losses may be claimed on seller’s Hawaii
income tax return for the year of sale.
Line 10. Add lines 8 and 9.
Line 12. Line 2 minus line 11. If you are reporting the gain
under the installment method, attach a separate sheet
showing the principal payments received during the taxable year and the gross profit percentage. Multiply the
amount of the principal payments by the gross profit percentage and enter the result on line 12.
Line 13. If you are a C corporation, multiply line 12 by 4%
and enter the result on line 13. If you are a person other
than a C corporation, you must use the tax rate schedules
to the left to determine the amount to enter on line 13.
NOTE: These tax rates apply to long-term capital
gains. For short-term capital gains, use the tax rates
in the income tax booklets to determine the amount to
enter on line 13.
For partnerships, S corporations, trusts, or estates, the
gain on line 12 must be allocated among each partner
or member, S corporation shareholder, or beneficiary of
the trust or estate (member). Calculate the tax liability for
each member. Enter the total tax liability of all members
on line 13. Attach a schedule showing the name, identification number, and the amount of gain and tax liability
allocated to each member. Also, show the computation of
the tax liability for each member.
See federal Publication 523 for more information.

Signature
Form N-288C must be signed by an individual, a responsible corporate officer, a member or general partner
of a partnership, or a trustee, executor, or other fiduciary
of a trust or estate or by an authorized agent with a power
of attorney. If you file your income tax return as married
filing a joint return, your spouse must also sign this form.
NOTE: Incomplete forms will be returned to the transferor/seller. Please fill out all items.