Form F-1 - Franchise Tax Return Banks, Other Financial Corporations, And Small Business Investment Companies Page 3
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4FORM F-1 (REV. 2015)
Page 3
Name as shown on return
Federal Employer Identification Number
VBF153
CLASSIFICATION OF APPORTIONABLE BUSINESS INCOME SUBJECT TO TAX
48.
48
Enter the portion of the amount on line 47 that is ordinary income
49.
49
Enter the portion of the amount on line 47 that is net capital gain Also, enter on line 60
50.
50
Total (lines 48 and 49) This total must be equal to the amount on line 47
INCOME WHOLLY ATTRIBUTABLE TO HAWAII SUBJECT TO TAX
51.
51
Gain (or loss) from sale of real estate and other tangible assets located in Hawaii
52.
52
Royalties from property located in Hawaii
53.
53
Net profit (or loss) from nonbusiness rental property within Hawaii
54.
Net gain from sale of nonbusiness assets located in or having tax
situs in Hawaii:
(a) Net short-term capital gain
54(a)
(b) Net capital gain attributable to Hawaii (This amount, if any, also
54(b)
should be entered on line 60)
(c) Net gain (or loss) from sale or exchange of property other than
54(c)
capital assets
55.
Income from intangible personal property Include entire income
(or loss) of intangibles which, because of domicile of the corporation
or business situs of intangibles, are located in Hawaii Add back
Hawaii allocated, nonbusiness income and dividends
(a) Dividends included on line 35 above (Attach schedule)
55(a)
(b) Interest
55(b)
(c) All other income from intangibles (Attach schedule)
55(c)
56.
56
Total income wholly attributable to Hawaii (lines 51 to 55(c))
57.
57
Total of lines 47 and 56 (or the amount from line 34 if you did not need to apportion your income)
58.
58
Net operating loss deduction—submit schedule (See instruction XI)
59.
59
Net income (or loss) for Hawaii tax purposes (line 57 minus line 58)
TAX COMPUTATION
60.
Enter the amount of net capital gains as shown on page 1, line 8(a) (If you apportioned your income,
60
enter the amounts from lines 49 and 54(b), if any, instead)
61.
61
Line 59 minus line 60 (If less than zero, enter zero)
62.
(a) Tax on capital gain — 4% of amount on line 60
62(a)
(b) Tax on net income — 7 92% of amount on line 61
62(b)
(c) Total of lines 62(a) and 62(b)
62(c)
(d) Using the 7 92% rate, compute tax on all taxable income using amount from line 59
62(d)
63.
63
Total tax (enter lesser of line 62(c) or 62(d))
64.
64
Recapture of Capital Goods Excise Tax Credit from Form N-312, Part II
65.
65
Recapture of Low-Income Housing Tax Credit from Form N-586, Part III
66.
Recapture of High Technology Business Investment Tax Credit
66
from Form N-318, Part III
67.
67
Recapture of Capital Infrastructure Tax Credit from Form N-348, Part IV
68.
68
Total recapture of tax credits (Add lines 64, 65, 66, and 67)
69.
69
Total tax (Add lines 63 and 68) Enter here and on page 1, line 70
Schedule C
INCOME FROM DIVIDENDS (Classified for Hawaii Purposes)
3. Received from an
4. Received by a small
2. National Banking
1. Name of declaring corporation
affiliate (including foreign)
business investment co
5. All other dividends
Associations
as IRC section 243(b)
operating under Small
qualifying dividend
Business Investment Act
6. Total dividends (Add amounts in columns 2, 3, 4, and 5) Enter here and on page 1, line 4
7. Dividends qualifying for the 70% dividends received deduction (Total of amounts in column 5)
8. Multiply line 7 by 30 (30%)
9. Taxable mutual funds dividends
10. Total taxable dividends (Add lines 8 and 9) Enter here and on page 2, line 25
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