Form Fp-1 - Franchise Tax Or Public Service Company Tax Installment Payment Voucher - 2016 Page 8

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How to Use the Payment Voucher

This form is used to report and pay monthly or quarterly installments of the Franchise Tax imposed by chapter 241, HRS, or the Public Service Company

Tax imposed by chapter 239, HRS. Sections 241-5 and 239-7, HRS, provide for the franchise and public service company taxes respectively, to be paid

in 12 equal monthly installments when the estimated tax liability for the taxable year exceeds $100,000. The first installment is to be paid on or before the

10th day of the first month following the close of the calendar or fiscal year and the remaining installments to be paid on or before the 10th day of each

calendar month following the first tax installment.

If a tax installment is paid with the filing of Form F-1, Franchise Tax Return, or U-6, Public Service Company Tax Return, enter zero on line 4 of this form

and a notation “F-1” or “U-6”. If a payment of franchise tax is made with an application for an extension of time to file Form F-1 or U-6, enter zero on line

4 of this form and a notation “N-755”.

Quarterly Payment Taxpayers.—Use this form to report and pay the franchise tax in four equal installments under section 241-5, HRS, or the public

service company tax in four equal installments under section 239-7, HRS.

Due to the nature of the Franchise Tax and Public Service Company Tax and to how those taxes are imposed, there are no provisions in either tax law that

requires or allows the making of estimated tax payments for your next tax year, similar to what is required and allowed for income tax purposes. Therefore,

Form FP-1 should not be used to make any such estimated tax payments.

GENERAL INSTRUCTIONS

1. Please provide the taxable year of the income that the tax is based on in the space provided, (i.e., calendar tax year 2015, or fiscal tax year 2015

beginning on month 1, 2015 and ending on month dd, 20yy).

2. Check, in the appropriate box, what type of taxpayer you are.

3. Enter the Hawaii tax identification number, federal employer identification number (FEIN), name and address.

4. Enter on line 1, your total estimated tax liability for the year.

5. If you have applied an overpayment of tax on your 2015 Hawaii tax return to your tax for 2016, all or part of the overpayment may be applied to any

voucher. Enter on line 3 the amount to be applied to the voucher being used.

6. Subtract line 3 from line 2 and enter the amount of the payment on line 4. Mail the voucher to the Hawaii Department of Taxation even if line 4 is zero.

7. Attach to the voucher a check or money order made payable to the “Hawaii State Tax Collector” in payment of the tax. Include your FEIN on the check

or money order. Do not send cash through the mail.

HAWAII DEPARTMENT OF TAXATION

8. Detach the voucher at the perforation and mail with the required payment to:

P.O. Box 1530

Honolulu, HI 96806-1530