Hawaii Corporation Income Tax Return

Corporation Income Tax Return
Form N-30, Rev. 2023, Corporation Income Tax Return
Clear Form
		

STATE OF HAWAII — DEPARTMENT OF TAXATION

FORM	

	

N-30
		 (REV.
2023) CORPORATION INCOME TAX RETURN
	

THIS SPACE FOR DATE RECEIVED STAMP

2023

CALENDAR YEAR 
			
or other tax year beginning ___________________ , 2023
  and ending ____________________ , 20_____
  Final Return

N30_I 2023A 01 VID01

PRINT OR TYPE

Name

 AMENDED Return (Attach Sch AMD)

 NOL Carryback

 IRS Adjustment

Federal Employer I.D. No.

Dba or C/O

Business Activity Code No. (Use code shown on federal
form 1120 or 1120A)

Mailing Address (number and street)

Date business began in Hawaii

City or town, State, and Postal/ZIP Code. If foreign address, see Instructions.

Hawaii Business Activity

Hawaii Tax I.D. No.

  THIS RETURN IS (CHECK BOX, IF APPLICABLE):	

	

		
		

	 For a multi-state corporation using separate accounting.
For a real estate investment trust (REIT).
A combined return of a unitary group of corporations. (See instructions)
		 A consolidated return. (Domestic (Hawaii) corporations only.)
A separate return of a member corporation of a unitary group. (See instructions) (Attach a copy of Hawaii Forms N-303 and N-304 for each subsidiary)

FOR LINES 1 - 5 and 7 - 10, ENTER AMOUNTS FROM COMPARABLE LINES ON FEDERAL RETURN.

 ATTACH CHECK OR MONEY ORDER HERE  
TAX AND TAX PAYMENTS
TAXABLE INCOME

	 1	(a)	Gross receipts or sales .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 1(a)
		
(b)	Returns and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . 	 1(b)
		
(c)	Line 1(a) minus line 1(b) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
†	 1(c)
	 2	 Cost of goods sold .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 2
	 3	Interest	
.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 3
	 4	 Gross rents.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 4
	 5	 Gross royalties .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 5
	 6	 (a) Capital gain net income (attach Hawaii Schedule D).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 6(a)
		
(b) Net gain (loss) from Hawaii Schedule D-1, Part II, line 19 (attach Schedule D-1)..  .  .  .  .  .  .  .  .  .  .  .  .  .  	 6(b)
	 7	 Other income .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 7
	 8	 	 TOTAL INCOME .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  TOTAL INCOME † 	 8
	 9		TOTAL DEDUCTIONS .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . TOTAL DEDUCTIONS †	 9
	 10	 Taxable income before Hawaii adjustments — Line 8 minus line 9. Enter here and on Schedule J, line 1 .  .  .  	 10
	 11	 TOTAL TAX (Schedule J, line 24) . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  TOTAL TAX †	 11
	 12	 Total refundable credits from Schedule CR, line 10 .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 12
	13	 ADJUSTED TAX LIABILITY — Line 11 minus line 12. If line 13 is zero or less, see Instructions.. . . . . . . †	 13
	 14	 Total nonrefundable credits from Schedule CR, line 32 .  .  .  .  .  .  .  .  .  .  .  .  . 	 14
	15	 Line 13 minus line 14.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  †	 15
	 16	 (a)	2022 overpayment allowed as a credit .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 16(a)
		
(b)	 2023 estimated tax payments (including any Form N-288A withholdings. See Instructions) .	 16(b)
		
(c)	Payments with extension (attach Form N-201V) .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 16(c)
		
(d)	Total (Add lines 16(a), 16(b), and 16(c)) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . TOTAL †	 16(d)
	 17	 Estimated tax penalty (see Instructions). Check if Form N-220 is attached.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †
	 17
	 18	 TAX DUE (If the total of lines 15 and 17 are larger than line 16(d)), enter AMOUNT OWED .  .  .  .  .  .  .  .  .  .  . 	18
	 19	 If line 16(d) is larger than the total of lines 15 and 17, enter AMOUNT OVERPAID. See Instructions..  .  .  .  .  .  	 19
	 20	 Enter amount of line 19 you want Credited to 2024 estimated tax †20(a) $	
Refunded †	 20(b)
	 21	 Enter AMOUNT PAID with this return.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 21
	 22	 Amount paid (overpaid) on original return — AMENDED RETURN ONLY (See Instructions. Attach Sch AMD). 	 22
	 23	 BALANCE DUE (REFUND) with amended return (See Instructions. Attach Sch AMD) .  .  .  .  .  .  .  .  .  .  .  .  	 23

Please Sign Here

Amended
Return

00

I declare, under the penalties set forth in section 231-36, HRS, that this return (including any accompanying schedules or statements) has been examined by me and, to the best of my
knowledge and belief, is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

† 		 
†
Signature of officer	

Print or type name and title of officer		

Date

 May the Hawaii Department of Taxation discuss this return with the preparer shown below? (See page 2 of the Instructions) This designation does not replace Form N-848 
Paid
Preparer’s
Information

	
C301E3T4

  Yes 

 No

PTIN		
Preparer’s signature 	
Check if
and date
self-employed †
†
Print Preparer’s Name
	
		
Federal
Firm’s name (or yours,		
E.I. No. †
if self-employed)
		
Address and ZIP  Code
Phone no. †

†

†

		

ID NO 01

FORM N-30 (REV. 2023)

FORM N-30 (REV. 2023)	

Page 2
Name as shown on return	

Federal Employer Identification Number

N30_I 2023A 02 VID01

Schedule C

Income From Dividends (Classified for Hawaii Purposes)

DIVIDENDS

1 Name of declaring corporation
(Attach a separate sheet if more space is needed.)

	 6	
	 7	
	 8	
	 9	
	 10	
	 11	

2 National Bank
Associations
or certain high
technology
businesses

3 Received from an 4 Received by a Small
affiliate (including
Business Investment
foreign) as
Co. operating under
IRC section 243(b)
Small Business
qualifying dividend
Investment Act

5 Columns 2 through 4
and all other dividends

Total dividends. (Subtotal of column 5).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 
Sum of columns 2 through 4 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 
Subtotal. Line 6 minus line 7.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 
Multiply line 8 by .30 (30%).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 
Taxable mutual funds dividends .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Total taxable dividends. Line 9 plus line 10.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †

Schedule J

Adjustments to Income for Hawaii Purposes and Tax Computation

TAX COMPUTATION

SUBTRACTIONS

ADDITIONS

	 1	 Taxable income (loss) before Hawaii adjustments from page 1, line 10 (Unitary business taxpayers, see Instructions).  	 1
	 2	(a)	
Taxable dividends from Schedule C, line 11 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 2(a)
		(b)	Deductions allowable for federal tax purposes but not allowable or
	 allowable only in part for Hawaii tax purposes (attach schedule).  .  .  .  .  .  	 2(b)
		
(c)	The portion of the Hawaii jobs credit claimed applicable to current year
	 new employees from Schedule CR, line 26 (see Instructions) .  .  .  .  .  .  .  	 2(c)
		
(d)	Other adjustments (attach schedule) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 2(d)
	 3	 Total additions (Add lines 2(a), 2(b), 2(c) and 2(d)).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 3
	 4	 Total of lines 1 and 3 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 4
	 5	 Entire dividends as reported on federal return and included on page 1, line 8 .  .  .  	 5
	 6	 Interest on obligations of the United States included on page 1, line 8 .  .  .  .  . 	 6
	 7	 Net income from sources outside Hawaii received by a foreign or domestic corporation,
except for unitary business taxpayers using Form N-30, Schedules O & P..  .  .  .  .  .  	 7
	 8	 Amortization of casualty losses where election is made to amortize for Hawaii tax
purposes under section 235-7(f), HRS (attach explanation) .  .  .  .  .  .  .  .  .  .  .  	 8
	 9	 Net operating loss deduction (under section 235-7(d), HRS) (attach schedule) .  .  . 	 9
	 10	 Other deductions or adjustments (attach schedule) .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 10
	 11	 Total subtractions (Add lines 5, 6, 7, 8, 9, and 10) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †  	11
	 12	 Taxable income (loss) for Hawaii tax purposes (line 4 minus line 11) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 12
		
Note: If the corporation has a farming NOL for the tax year, to elect to forego the carryback period, attach a statement to that effect.
	 13	 Enter the amount of net capital gains as shown on Schedule D, line 18 (Schedules O & P taxpayers, see Instructions). 	 13
	 14	 Line 12 minus line 13 (if less than zero, enter zero).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †  	14
	 15	 (a)	Tax on capital gain, line 13 — Enter 4% of amount on line 13.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	15(a)
		
(b)	Tax on all other taxable income, line 14 — If the amount on line 14 is:
			 (i)	 Not over $25,000 — Enter 4.4% of line 14 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 15(b)(i)
			 (ii)	 Over $25,000 but not over $100,000 — Enter 5.4% of line 14 $____________________________
		
Subtract $250.00 and enter difference .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 15(b)(ii)
			 (iii)	 Over $100,000 — Enter 6.4% of line 14 $_____________________________
		 Subtract $1,250.00 and enter difference .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 15(b)(iii)
		
(c)	Total of lines 15(a) and 15(b) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 15(c)
		
(d)	Using the rates listed on line 15(b), compute tax on all taxable income using amount from line 12 .  .  .  .  .  	 15(d)
	16	 Total tax (enter the lesser of line 15(c) or 15(d)) (Combined unitary group filers, see Instructions) .  .  .  .  .  .  .  . 	 16
	 17	 Recapture of Capital Goods Excise Tax Credit from Form N-312, Part II. .  .  .  	 17
	 18	 Recapture of Low-Income Housing Tax Credit from Form N-586, Part III .  .  .  . 	 18
	 19	 Recapture of Tax Credit for Flood Victims from Form N-338.  .  .  .  .  .  .  .  .  .  	 19
	 20	 Recapture of Important Agricultural Land Qualified Agricultural Cost Tax Credit from Form N-344.  	 20
	21	 Recapture of Capital Infrastructure Tax Credit from Form N-348, Part II.  .  .  .  	 21
	 22	 Total recapture of tax credits (Add lines 17, 18, 19, 20, and 21) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	22
	 23	 Interest due under the look-back method — completed long-term contracts (See Instructions. Attach federal Form 8697). 	23
	 24	 Total tax (Add lines 16, 22, and 23). Enter here and on page 1, line 11.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . † 	 24

	
C302E3T4

ID NO 01

FORM N-30 (REV. 2023)