Form N-755 - Application For Automatic Extension Of Time To File Hawaii Franchise Tax Return (Form F-1) Or Public Service Company Tax Return (Form U-6) Page 2
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1
2FORM N-755
(REV. 2013)
PAGE 2
(1) On or before the due date of the return pre-
payment, whether or not that first calendar day
INSTRUCTIONS
scribed by the statute, there shall have been
falls on a Saturday, Sunday, or legal holiday.
1. Purpose. — Use this form to ask for an
paid, through a payment accompanying the
10. Consolidated Returns. — If a consoli-
automatic 6-month extension of time to file Form
application for the extension, an amount
dated return is to be filed, the parent corporation
F-1 or Form U-6.
equal to the tax payable for the year.
may request an automatic extension for its sub-
If you are electing to pay the tax in four equal
Do not request an automatic extension if you
sidiaries. In such case, the name, address, and
installments, then one-fourth (1/4) of the tax
are under a court order to file your return by the
Federal Employer Identification Number of each
due must accompany this form. If your total
regular due date.
member of the affiliated group for which the ex-
tax liability exceeds $100,000, your tax pay-
tension is desired must be listed under item 2 on
The extension will be granted if you complete
ments must be made in 12 equal installments
a separate sheet. The filing of this form by a par-
this form properly, file it on time, pay with it the
beginning with the 10th day of the first month
ent corporation is not considered as an exercise
amount of tax shown on line 4c and meet the
following the close of the taxable year. One-
of the privilege of making a consolidated return.
conditions indicated in item 7 of the Instructions.
twelfth (1/12) of the tax due instead must
11. Termination of Extension. — The Direc-
In no case shall the extension be granted for
accompany this form. If a payment accom-
tor of Taxation may terminate the automatic ex-
a period of more than six months beyond the due
panies the application for the extension, the
tension at any time by mailing a notice of termina-
date of the return.
amount of this payment shall be shown on
tion to the entity or to the person who requested
line 4c.
2. Where to Get Tax Forms. — Hawaii tax
the extension for the entity. The notice will be
forms, instructions, and schedules may be ob-
(2) Within the time specified by the automatic
mailed at least 10 days prior to the termination
tained at any taxation district office or from the
extension, the return shall be filed, accompa-
date designated in the notice.
Department’s website at tax.hawaii.gov, or you
nied by payment of the remaining tax liability.
SPECIFIC INSTRUCTIONS
may contact a customer service representative
If the above conditions are not met, the delin-
at:
quent penalty and interest will be charged on
We have provided specific instructions for
the tax as if no extension had been granted,
808-587-4242
most of the lines on the form. Those lines that
i.e., the computation of delinquent penalty
1-800-222-3229 (Toll-Free)
do not appear in the Instructions are self-explan-
and interest will relate back to the due date
atory.
3. When to File. — File this application on or
prescribed by the statute.
Line 3. — Enter the amount of tax you expect
before the original due date of the entity’s income
8. Penalties. — You may be assessed one or
to owe for the taxable year.
tax return. If the due date falls on a Saturday,
both of the following penalties.
Sunday, or legal holiday file by the next regular
Line 4c. — Enter one-fourth (1/4) of the
Late Filing of Return. — The penalty for failure
workday.
amount shown in line 3 on line 4c if you have
to file a return on time is assessed on the tax due
elected to pay the tax due in four equal install-
You may file the applicable tax return any time
at a rate of 5% per month, or part of a month, up
ments. Section 239-7, HRS, allows the payment
before the 6-month period ends.
to a maximum of 25%. If you file and pay a return
of the public service company tax to be made in
4. Where to File. — Submit this form to:
late, attach a full explanation with the return.
four equal installments on April 20, June 20, Sep-
tember 20, and December 20. Section 241-5,
HAWAII DEPARTMENT OF TAXATION
Failure to Pay After Filing Timely Return. —
HRS, allows the payment of the franchise tax due
P. O. Box 1530
The penalty for failure to pay the tax after filing a
in four equal installments. The first installment
Honolulu, Hawaii 96806-1530
timely return is 20% of the tax unpaid within 60
shall be paid on or before the twentieth day of the
days of the prescribed due date. The 60-day pe-
5. How to Fill Out This Form. — Fill in the
fourth month following the close of the fiscal year
riod is calculated beginning with the prescribed
spaces with the entity’s name, address, Federal
(April 20 for calendar year taxpayers). This form
due date even if the prescribed due date falls on
Employer Identification Number, and Hawaii Tax
has incorporated the payment of the first quar-
a Saturday, Sunday, or legal holiday.
I.D. No., if any. Below that indicate the applicable
terly installment or the 5th monthly installment for
tax form to which the extension relates.
These penalties are in addition to any interest
certain taxpayers whose total tax liability exceeds
charged on underpayment or nonpayment of tax.
6. How to Claim Credit for Payment Made
$100,000 of this tax payable for the taxable year.
With This Form. — Show the amount paid (line
An extension of time to file your tax return will not
9. Interest. — Interest at the rate of 2/3 of 1%
4c) with this form on the applicable tax return.
extend the time to pay your tax. Therefore, you
per month, or part of a month, shall be assessed
must pay the amount of tax shown on line 4c in
on unpaid taxes and penalties beginning with the
7. Granting of Extension. — An automatic
full with this form.
first calendar day after the date prescribed for
extension of time for filing a return shall be al-
lowed only upon the following two conditions:
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