Form N-220 - Underpayment Of Estimated Tax By Corporations And S Corporations - 2014

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STATE OF HAWAII - DEPARTMENT OF TAXATION

Underpayment of Estimated Tax by Corporations

FORM

2014

N-220

and S Corporations

(REV. 2014)

Attach this form to your tax return

See separate instructions



Name as shown on tax return

Federal Employer I.D. Number

Part I

Reasons For Filing—Check whichever box(es) applies. If none of the boxes apply to the corporation

or S corporation, go on to Part II. File Form N-220 with Form N-30, Form N-35, or Form N-70NP.



The corporation or S corporation is using the annualized income installment method.



The corporation or S corporation is using the adjusted seasonal installment method.



The corporation is a “large corporation” computing its first installment based on the prior year’s tax.

Part II

Figuring Your Underpayment

1 Total tax (see Instructions) .......................................................................................................................................

2 Total credits. (see Instructions) (S Corporations, enter -0-). .....................................................................................

3 Line 1 minus line 2. If the result is less than $500, do not complete or file this form. The corporation

does not owe the penalty ..........................................................................................................................................

4 Enter the tax shown on the corporation’s 2013 income tax return. (CAUTION: See Instructions before

completing this line.) .............................................................................................................................................

5 Enter the smaller of line 3 or line 4. If the corporation must skip line 4, enter the amount from line 3 on line 5 ......

(a)

(b)

(c)

(d)

6 Installment due dates. Enter in columns (a) through (d)

the 20th day of the 4th, 6th, and 9th months of the corpora-

tion’s tax year and the 20th day of the 1st month following

the close of the tax year .................................................

7 Required installments. If box a and/or b above is

checked, enter the amounts from Schedule A, line 38. If

box c (but not a or b) is checked, see page 2 of the instruc-