Form N-1 - Declaration Of Estimated Income Tax For Individuals

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(e.g., nonresident aliens and dual-status aliens

so that you will be required to file a declaration later.

Annualized Income Installment Method

cannot claim the standard deduction) will apply

Or after you have filed a declaration, you may find

If you do not receive your income evenly throughout

when the individual files a Hawaii income tax

that your estimated tax is substantially increased or

the year (for example, your income from a repair

return.

decreased as a result of such change. In a case of

shop you operate is much larger in the summer

this sort, file or amend your declaration on the next

The foregoing tax treatment of residents, part-year

than it is during the rest of the year), your required

quarterly payment date, and pay the declaration or

residents, and nonresidents will cause differences

estimated tax payment for one or more periods may

amount remaining unpaid in equal installments on

between the income reported for federal and Hawaii

be less than the amount figured using the regular

that and any succeeding quarterly payment dates.

purposes in some cases.

installment method.

8. Penalty — For failure to pay as required by law, a

6. Use of Estimated Tax Worksheet — Most of the

To see if you can pay less for any period, copy

penalty will be added to the tax as provided. Willful

items on the worksheet are self-explanatory, with

and complete the blank federal 2015 Annualized

failure to make a required declaration of estimated

the exception of line 7. Enter on that line any ad-

Estimated Tax Worksheet in federal Pub. 505. The

tax is an offense punishable as provided by section

ditional taxes from:

worksheet annualizes your tax at the end of each

235-105, HRS. The penalty however, may be waived

period based on a reasonable estimate of your income,

Form N-2, Distribution from an Individual

by the Department of Taxation under certain condi-

deductions, and other items relating to events that

Housing Account;

tions. See federal Pub. 505 for details.

occurred since the beginning of the tax year through

Form N-103, Sale of Your Home;

9. Fiscal Year — If your return is on a fiscal year

the end of the period.

Form N-152, Tax on Lump-Sum Distributions;

basis, your due dates are the 20th day of the 4th, 6th,

Form N-312, Recapture of Capital Goods

Note: If you use the annualized income installment

and 9th months of your fiscal year and the 1st month

Excise Tax Credit;

method to figure your estimated tax payments, you

of the following fiscal year.

Form N-318, Recapture of High Technology

must file Form N-210 with your 2015 tax return.

Business Investment Tax Credit;

10. Further Instructions — The above instructions

See federal Pub. 505 for more information. In

Form N-338, Recapture of Tax Credit for

are general and do not cover every situation. Persons

general, most of the provisions relating to the federal

Flood Victims;

having specific questions may obtain information

worksheet are applicable, except that 1) Section B is

Form N-344, Recapture of Important

from the following:

not applicable because Hawaii has no comparable self-

Agricultural Land Qualified Agricultural

employment tax; 2) references to the federal amounts

Telephone:

Cost Tax Credit

for the standard deduction, personal exemption,

For tax information and forms:

Form N-405, Tax on Accumulation

and tax rates should be substituted with the Hawaii

808-587-4242

Distribution of Trusts;

amounts; 3) references to federal taxes should be

Toll-Free: 1-800-222-3229

Form N-586, Recapture of Low-Income

substituted with Hawaii taxes as discussed at item

Telephone for the Hearing Impaired:

Housing Tax Credit; or

6 above; and 4) references to federal credits (other

808-587-1418

Form N-814, Parent’s Election to Report

than withholding credits) should be substituted with

Toll-Free: 1-800-887-8974

Child’s Interest and Dividends.

Hawaii credits.

7. Changes in Income, Exemptions, or Status — Even

Website address:

though your situation on April 20 is such that you are

For tax information and forms:

not required to file a declaration at that time, your

tax.hawaii.gov

expected income, exemptions or status may change

2015 Estimated Tax Worksheet (Keep for your records — DO NOT Send to Hawaii Department of Taxation)

Enter the amount of Hawaii Adjusted Gross Income you expect in 2015. ..............................................................................

If you plan to itemize deductions, enter the estimated total of your itemized deductions. Caution: Your total itemized

deductions may be limited. See the instructions for Form N-11 or Form N-15. If you do not plan to itemize deductions,

enter (a) $4,400 if married filing jointly or qualifying widow(er); (b) $3,212 if head of household; (c) $2,200 if single or

married filing separately; or (d) the greater of $500 or your estimated earned income (up to the full standard deduction

for your filing status) if you are eligible to be claimed as a dependent by another taxpayer. Note: Nonresident aliens and

dual-status aliens cannot claim the standard deduction.

Part-year residents/nonresidents: Your standard deduction amount must be multiplied by the ratio of Hawaii AGI to

AGI from all sources ...............................................................................................................................................................

Line 1 minus line 2 ..................................................................................................................................................................

Enter your exemptions ($1,144 for each exemption, including additional exemption for age). Blind, deaf, or totally disabled

persons, enter $7,000 in lieu of all other exemptions. Caution: See the instructions for Form N-11 or Form N-15 to figure

the amount to enter if line 1 above is over: $179,963 if married filing jointly or qualifying widow(er); $149,963 if head of

household; $119,963 if single; or $89,981 if married filing separately.

Part-year residents/nonresidents: Your personal exemption amount must be multiplied by the ratio of Hawaii AGI to

AGI from all sources ...............................................................................................................................................................

Line 3 minus line 4 ..................................................................................................................................................................

Tax (Figure tax on line 5 by using Tax Rate Schedule I, II, or III in these instructions) ...........................................................

Enter any additional taxes from General Instructions, Item 6 .................................................................................................

Add lines 6 and 7 ....................................................................................................................................................................

Credits (refundable food/excise tax credit, credit for child and dependent care expenses, renewable energy

technologies income tax credit, credit for low-income household renter, etc.) Do not include income tax withholding. .........

10 Line 8 minus line 9. Enter the result but not less than zero. THIS IS YOUR TOTAL 2015 ESTIMATED TAX ......................

11a Multiply line 10 by 60% ...........................................................................................................

11a

11b Enter 100% of the tax shown on your 2014 tax return ............................................................

11b

11c Enter the smaller of line 11a or 11b. THIS IS YOUR REQUIRED ANNUAL PAYMENT TO AVOID A PENALTY ................

11c

Caution: Generally, if you do not prepay at least the amount on line 11c, you may owe a penalty for not paying enough

estimated tax. To avoid a penalty, make sure your estimate on line 10 is as accurate as possible. Even if you pay the

required annual payment, you may still owe tax when you file your return. If you prefer, you may pay the amount shown

on line 10.

12 Estimated income tax to be withheld during 2015 (wages and disposition of real property by nonresident persons) ............

13 Estimated tax (line 11c minus line 12). If $500 or more, fill out and file the payment voucher;

if less, no declaration is required at this time ..........................................................................................................................

14 If the first payment voucher you are required to file is due April 20, 2015, enter 1/4 of line 13 here and on lines 1, 4, 7, and

10 of the Payment Voucher Worksheet (Whole dollars only) ..................................................................................................

Note: If you are not required to file a voucher at this time, you may have to file one at a later date. See General Instructions, Item 7.