Form M-6gs - Hawaii Generation-Skipping Transfer Tax Return For Calendar Year 2015 Page 2
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1
2FORM M-6GS
(REV. 2015)
PAGE 2
GENERAL INSTRUCTIONS
(NOTE: References to “married”, “unmarried”, and “spouse” also means “in a civil union”, “not in a civil union”, and “civil union partner”, respectively.)
SPECIFIC INSTRUCTIONS
NOTE: For transfers before January 26, 2012,
not paid by the due date will incur interest from
use Form M-6GS (Rev. 2010)
the due date, regardless of any extension of time
Name — Enter the name of the skip person
to file the return. For taxable distributions, the
NOTE: References to the federal Generation-
distributee or the trust.
GST tax is paid by the transferee; in the case of
Skipping Transfer (GST) Tax means the tax
a taxable termination or a direct skip from a trust,
Social Security Number — For skip person
as determined under federal law as it read on
the tax is paid by the trustee. For a direct skip
distributees who are individuals, enter the
December 31, 2014.
other than a direct skip from a trust, the transferor
distributee’s social security number, otherwise
is liable for paying the tax.
1. Purpose of Form — Section 236E-17, Hawaii
leave blank.
Revised Statutes, provides for a state GST tax.
6. Amount Paid with Extension — Persons who
Federal
Employer
Identification
Number
The tax is imposed on all generation-skipping
will be filing Form M-6GS after the filing deadline
(FEIN) — Enter the FEIN of the trust distributee
transfers of property in Hawaii or property from
(April 15th after the date of the decedent’s death)
or trust.
a resident trust. The tax is due on a GST (other
because they have an extension, must make
than a direct skip) that occurs at the same time
Name and Title of Person Filing Return — If
a tax payment prior to filing Form M-6GS by
as, or as a result of, the death of an individual.
the skip person distributee is a trust, enter the
submitting a copy of the extension filed with the
Property subject to Hawaii GST tax includes all
trustee’s name. If the skip person distributee is a
IRS, Form VP-2, and payment for the taxes due.
real and personal property subject to the federal
minor or is under some disability that precludes
Include this amount on line 17.
GST tax.
the individual from filing the return, enter the
7. Federal Form Requirement — A complete
name of the person who is legally responsible
A credit is allowed for GST taxes paid to another
true copy of the appropriate federal Generation-
for conducting the affairs of the distributee, such
state. A GST is exempt from Hawaii’s GST tax if
Skipping Tax Return Form 706-GS(D)(Rev.
as a parent or guardian, also, include the title or
the GST is exempt from the GST tax imposed by
August 2013) or Form 706-GS(T)(Rev. November
relationship to the distributee.
another state. The exemption must specifically
2013) must be filed with this return. Complete
reference Hawaii, or must contain a reciprocal
Address — Enter the address of the person filing
federal Form 706-GS(D)(Rev. August 2013)
provision under which the transfers would
the return.
through line 7, or federal Form 706-GS(T)(Rev.
otherwise be subject to the jurisdiction of that
November 2013) through line 10. The federal
Type of Federal Return Filed — Check the
state. The amount of the tax due is credited with
GST tax is to be determined under federal law as
appropriate box. Be sure to attach a complete
the lesser of (1) the amount of the tax paid to
it read on December 31, 2013.
true copy of the appropriate federal return to
the other state; or (2) an amount computed by
Form M-6GS.
8. Amended Return — If changes need to be
multiplying the Hawaii GST tax by a fraction, the
numerator of which is the taxable transfer subject
made to Form M-6GS, an amended return must
Complete lines 7 through 11 ONLY if there is
to the GST tax paid to the other state, and the
be filed. Check the box at the top of page 1 to
property located in states other than Hawaii.
denominator of which is the total amount of the
indicate that it is an amended return. Complete
taxable transfers subject to the federal GST tax.
Form M-6GS with all of the corrected information
Line 7 — Enter the appropriate taxable amount:
and attach Schedule AMD, Explanation of
2. Who Must File —The Form M-6GS is filed
A. Resident, enter the taxable amount of the
Changes on Amended Return, to the return. Also,
by the person(s) responsible, or who would be
transferred or distributed property located outside
attach all schedules, forms, and attachments
responsible, for filing the federal GST tax return.
of Hawaii subject to the GST tax imposed by
required to file a complete return. Attach any
another state(s) (includes intangible and tangible
federal Form 706-GS(D)(Rev. August 2013) or
3. When to File — Form M-6GS must be filed
property with a situs outside Hawaii).
706-GS(T)(Rev. November 2013) schedules
by April 15th of the year following the calendar
affected by the corrections or changes.
year of the decedent’s death.
An automatic
B. Nonresident, enter the taxable amount of
six-month extension to file the return will be
the transferred or distributed property less the
An amended return must be filed anytime Form
granted if an extension has been granted by the
value of any interest in Hawaii real and tangible
M-6GS needs an adjustment. In the case of
Internal Revenue Service (IRS). If the date for
personal property located in Hawaii subject to
property located in states other than Hawaii, an
filing Form 706-GS(D) or Form 706-GS(T) has
the GST tax imposed by another state(s). Include
amended Form M-6GS must be filed when the
been extended by the IRS, Form M-6GS will be
the amount of intangible property with a business
tax paid to other states changes. Interest and/or
due on the date that is specified by the IRS. An
situs in Hawaii. (Identify Hawaii property on
penalties paid to other states for delinquent tax
IRS approved copy of federal Form 7004 must
federal Form 706-GS(D) or 706-GS(T)).
payments cannot be included on line 11.
be submitted with Form M-6GS. If a request for
Line 8 — Enter the total amount of taxable
9. Penalty and Interest —
extension has been denied by the IRS, there will
transfers subject to the federal GST tax.
be no penalty assessed if Form M-6GS is filed
(a) Penalty for failure to file is equal to 5% of the
within the time specified by the IRS. Attach a
Line 11 — Enter the total of all GST taxes actually
tax due for each month or part of a month that the
copy of federal Form 7004 showing the date on
paid to any state other than Hawaii in respect of
report is delinquent, up to a maximum of 25% of
which the return may be filed without penalty.
any property subject to the GST tax.
the tax payable.
An extension of time to file is not an extension of
(b) Penalty for failure to pay after filing timely
Line 12 — Compare lines 10 and 11 and enter
time to pay the tax. Any request for an extension
report is 20% of the tax unpaid within 60 days
the lesser amount. This is the allowable credit for
of time to file Form M-6GS must be accompanied
of the prescribed due date. The 60-day period
GST taxes paid to another state(s).
by payment of the tax. Interest will be owed on
is calculated beginning with the prescribed due
any additional amount of tax over the amount
Line 17 — Attach an approved copy of federal
date even if the prescribed due date falls on a
paid with the extension to file.
Form 7004.
Saturday, Sunday, or legal holiday.
(c) Interest at the rate of 2/3 of 1% per month
4. Where to File —The completed return is
Line 19 — Pay the amount shown. Attach a
or part of a month shall be assessed on unpaid
mailed to the Hawaii Department of Taxation,
check or money order payable to “Hawaii State
taxes and penalties after the due date (9 months
P. O. Box 259, Honolulu, HI 96809-0259.
Tax Collector”; pay in U.S. dollars drawn on any
after the date of the decedent’s death), whether
U.S. bank. Do not send cash.
5. Payment of Tax — Due date of payment is the
or not that first calendar day falls on a Saturday,
same as time for filing. However, any tax due but
Sunday, or legal holiday.
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