Hawaii Exempt Organization Business Income Tax Form

Exempt Organization Business Income Tax Form
Form N-70NP, Rev 2023, Exempt Organization Business Income Tax Return
STATE OF HAWAII—DEPARTMENT OF TAXATION

FORM

N-70NP
(REV. 2023)

EXEMPT ORGANIZATION BUSINESS
INCOME TAX RETURN
For calendar year

Clear Form

THIS SPACE FOR DATE RECEIVED STAMP

2023

or other taxable year beginning _______________________, 2023
and ending _______________________, 20____

PRINT OR TYPE

N70NP_I 2023A 01 VID01

Final Return	

Amended Return (Attach Sch AMD)	

IRS Adjustment	

NOL Carryback

Name of organization	

A  Federal Employer I.D. No.	

Dba or C/O	

B  Unrelated business activity code(s)

Mailing Address (number and street)	

C  Hawaii Tax I.D. No.

 ATTACH CHECK OR MONEY ORDER HERE  
Tax Computation
Total Income Tax

Taxable Income

City or town, State and Postal/ZIP code. If this is a foreign address, see Instructions.	
D  This organization is a (check one):
	  Corporation    Charitable Trust
	
ENTER APPROPRIATE AMOUNTS FROM FEDERAL FORM 990-T. Note: The sum of lines 1 - 5 DO NOT equal line 6.
	 1	 Gross receipts or sales.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	
1
	 2	 Returns and allowances .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	
2
	 3	 Cost of goods sold and/or operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	
3
	 4	 Capital gain net income (see Instructions) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	
4
	 5	 Other income.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	
5
	 6	 Total unrelated trade or business income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	
6
	 7	 Total deductions .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	
7
	 8	 Unrelated business taxable income .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	
8
	 9	 Tax — From TAX COMPUTATION SCHEDULE on page 2, Part I, line 9 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †	 9
	 10	 Tax — From TAX COMPUTATION SCHEDULE on page 2, Part II, line 14 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . †	 10
	 11	 Recapture of Capital Goods Excise Tax Credit from Form N-312, Part II (attach Form N-312) .  .  .  .  .  .  .  .  .  . 	 11
	 12	 Recapture of Low-Income Housing Tax Credit from Form N-586, Part III (attach Form N-586) .  .  .  .  .  .  .  .  .  	 12
	 13	 Recapture of Tax Credit for Flood Victims from Form N-338 (attach Form N-338).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 13
	14	 Recapture of Important Agricultural Land Qualified Agricultural Cost Tax Credit (attach Form N-344).  .  .  .  .  .  	 14
	15	 Recapture of Capital Infrastructure Tax Credit (attach Form N-348).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 15
	 16	 Total tax (add lines 9 or 10 and 11, 12, 13, 14, and 15) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	16
	 17	 Total refundable tax credits from Schedule CR, line 10 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 17
	 18	 ADJUSTED TAX LIABILITY — Line 16 minus line 17. If line 18 is zero or less, see Instructions. .  .  .  .  .  .  .  	 18
	19	 Total nonrefundable credits from Schedule CR, line 32 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 19
	 20	 Line 18 minus line 19.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 20
	 21	 Credits and payments:
		
(a)	2022 overpayment credited to 2023 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 21(a)
		
(b)	Estimated tax payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 21(b)
		
(c)	Tax paid with automatic extension of time to file .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 21(c)
		
(d)	Total credits and payments (add lines 21(a) through 21(c)). . . . . . . . . . . . . . . . . . . . . . . . . . 	 21(d)
	 22	 Estimated tax penalty (see Instructions). Check if Form N-220 is attached .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  †
	 22
	 23	 TAX DUE — If line 21(d) is smaller than the total of lines 20 and 22, enter amount owed (see Instructions) .  .  	 23
	 24	 OVERPAYMENT — If line 21(d) is larger than the total of lines 20 and 22, enter amount overpaid (see Instructions) .  .  . †	 24
	 25	(a)	Enter the amount of line 24 you want Credited to 2024 estimated tax .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  †	25(a)
		(b)	
Enter the amount of line 24 you want Refunded to you (line 24 minus line 25(a)) .  .  .  .  .  .  .  .  .  .  .  .  . †	25(b)
	 26	 Enter AMOUNT PAID with this return .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 26
	27	 Amount paid (overpaid) on original return — AMENDED RETURN ONLY (see Instructions) .  .  .  .  .  .  .  .  .  .  	 27
	 28	 BALANCE DUE (REFUND) with amended return (see Instructions).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  	 28

Amended
Return

ATTACH COPY OF
FEDERAL FORM
990-T

Please Sign Here

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	

Date	

†

Name and title of officer
  Yes   

 May the Hawaii Department of Taxation discuss this return with the preparer shown below? (See page 5 of the Instructions)  
This designation does not replace Form N-848, Power of Attorney.

Paid
Preparer’s
Information

N701E3T4

  No

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

†

†

		
ID NO 01
FORM N-70NP (REV. 2023)

FORM N-70NP (REV. 2023)	
Name as shown on return	

Page 2
Federal Employer Identification Number

N70NP_I 2023A 02 VID01

TAX COMPUTATION SCHEDULE

PART I

— Organizations Taxable as CORPORATIONS (See Instructions for Tax Computation)

	 1	 Enter the amount of unrelated business taxable income as shown on page 1, line 8 . .  .  .  .  .  .  .  .  .  .  .  .  .
	 2	 Enter the total of other deductions (see Instructions, attach schedule). . . . . . . . . . . . . . . . . . . . . .
	 3	 Difference — line 1 minus line 2.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	 4	 Hawaii additions to income (see Instructions, attach schedule) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	 5	 Sum of lines 3 and 4.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	 6	 Enter the amount of taxable net capital gain from line 18, Schedule D (Form N-30/N-70NP) . .  .  .  .  .  .  .  .  .
	 7	 Difference — line 5 minus line 6 (if zero or less, enter zero). .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	 8	 (a)	Tax on net capital gain — 4% of the amount on line 6 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
		
(b)	Tax on all other taxable income — If the amount on line 7 is:
	
	 	 (i)	 Not over $25,000 — Enter 4.4% of line 7 . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	 	 	
(ii)	 Over $25,000 but not over $100,000 — Enter 5.4%
		
of line 7 $	
.  Subtract $250 and enter the difference. .  .  .  .  .  .  .  .  .
	 	 	
(iii)	 Over $100,000 — Enter 6.4%
		
of line 7 $	
.  Subtract $1,250 and enter the difference. .  .  .  .  .  .  .  .
		
(c)	Total of lines 8(a) and 8(b). . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
		
(d)	Using the rates listed on line 8(b), compute the tax on the amount on line 5 above . .  .  .  .  .  .  .  .  .  .  .  .
	 9	 Total tax (enter the smaller of line 8(c) or line 8(d)). Also, enter this amount on page 1, line 9. .  .  .  .  .  .  .

PART II
	
	
	
	
	
	
	
	
	
	
	
	
	
	

1	
2	
3	
4	
5	
6	
7	
8	
9	
10	
11	
12	
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14	

— TRUSTS Taxable at Trust Rates (See Instructions for Tax Computation)

Enter the amount of unrelated business taxable income as shown on page 1, line 8 . .  .  .  .  .  .  .  .  .  .  .  .  .
Enter the total of other deductions (see Instructions, attach schedule). . . . . . . . . . . . . . . . . . . . . .
Difference — line 1 minus line 2.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Hawaii additions to income (see Instructions, attach schedule) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Sum of lines 3 and 4.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Net capital gain taxable to the trust.  Enter the smaller of line 16 or 17, col. (b), Schedule D (Form N-40) .  .  .  .
Difference — line 5 minus line 6 (if zero or less, enter zero). .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Enter the greater of line 7 or $20,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Using the Trust Tax Rates below, compute the tax on the amount on line 8.  If line 8 is $20,000, enter $1,128.
Difference — line 5 minus line 8 (if zero or less, enter zero). .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Multiply the amount on line 10 by 7.25%. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Total of lines 9 and 11. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Using the Trust Tax Rates below, compute the tax on the amount on line 5 above .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Total tax (enter the smaller of line 12 or line 13).  Also, enter this amount on page 1, line 10 .  .  .  .  .  .  .  .  .

	

N702E3T4

	
	
	
	
	
	
	
	

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8(a)

	 8(b)(i)
	 8(b)(ii)
	 8(b)(iii)
	 8(c)
	 8(d)
	
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TRUST TAX RATES FOR PERIODS AFTER 12/31/01
If the taxable income is:	
The tax shall be:
Not over $2,000 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1.4% of taxable income
Over $2,000 but not over $4,000. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .$28.00 plus 3.20% of excess over $2,000
Over $4,000 but not over $8,000. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .$92.00 plus 5.50% of excess over $4,000
Over $8,000 but not over $12,000. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .$312.00 plus 6.40% of excess over $8,000
Over $12,000 but not over $16,000.  .  .  .  .  .  .  .  .  .  .  .  .  .  . $568.00 plus 6.80% of excess over $12,000
Over $16,000 but not over $20,000.  .  .  .  .  .  .  .  .  .  .  .  .  .  . $840.00 plus 7.20% of excess over $16,000
Over $20,000 but not over $30,000.  .  .  .  .  .  .  .  .  .  .  .  .  .  . $1,128.00 plus 7.60% of excess over $20,000
Over $30,000 but not over $40,000.  .  .  .  .  .  .  .  .  .  .  .  .  .  . $1,888.00 plus 7.90% of excess over $30,000
Over $40,000. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .$2,678.00 plus 8.25% of excess over $40,000

ID NO 01

FORM N-70NP (REV. 2023)