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FORM N-755
(REV. 2009) PAGE 2
(1) On or before the due date of the return pre- 10. Consolidated Returns. — If a consoli-
INSTRUCTIONS scribed by the statute, there shall have been dated return is to be filed, the parent corporation
1. Purpose. — Use this form to ask for an paid, through a payment accompanying the may request an automatic extension for its sub-
automatic 6-month extension of time to file Form application for the extension, an amount equal sidiaries. In such case, the name, address, and
F-1 or Form U-6. to the tax payable for the year. Federal Employer Identification Number of each
Do not request an automatic extension if you If you are electing to pay the tax in four equal member of the affiliated group for which the ex-
are under a court order to file your return by the installments, then one-fourth (1/4) of the tax tension is desired must be listed under item 2 on
regular due date. due must accompany this form. If your total a separate sheet. The filing of this form by a par-
tax liability exceeds $100,000, your tax pay- ent corporation is not considered as an exercise
The extension will be granted if you complete ments must be made in 12 equal installments of the privilege of making a consolidated return.
this form properly, file it on time, pay with it the beginning with the 10th day of the first month 11. Termination of Extension. — The Direc-
amount of tax shown on line 4c and meet the following the close of the taxable year. One- tor of Taxation may terminate the automatic ex-
conditions indicated in item 7 of the Instructions. twelfth (1/12) of the tax due instead must ac- tension at any time by mailing a notice of termina-
In no case shall the extension be granted for company this form. If a payment accompanies tion to the entity or to the person who requested
a period of more than six months beyond the due the application for the extension, the amount the extension for the entity. The notice will be
date of the return. of this payment shall be shown on line 4c. mailed at least 10 days prior to the termination
2. Where to Get Tax Forms. — Hawaii tax (2) Within the time specified by the automatic date designated in the notice.
forms, instructions, and schedules may be ob- extension, the return shall be filed, accompa-
tained at any taxation district office or from the nied by payment of the remaining tax liability. SPECIFIC INSTRUCTIONS
Department’s website at www.hawaii.gov/tax, If the above conditions are not met, the delin- We have provided specific instructions for
or you may contact the customer service staff of quent penalty and interest will be charged on most of the lines on the form. Those lines that
our Taxpayer Services Branch at: the tax as if no extension had been granted, do not appear in the Instructions are self-explan-
808-587-4242 i.e., the computation of delinquent penalty atory.
1-800-222-3229 (Toll-Free) and interest will relate back to the due date Line 3. — Enter the amount of tax you expect
prescribed by the statute. to owe for the taxable year.
3. When to File. — File this application on or 8. Penalties. — You may be assessed one or Line 4c. — Enter one-fourth (1/4) of the
before the original due date of the entity’s income both of the following penalties. amount shown in line 3 on line 4c if you have
tax return. If the due date falls on a Saturday,
Sunday, or legal holiday file by the next regular Late Filing of Return. — The penalty for failure elected to pay the tax due in four equal install-
workday. to file a return on time is assessed on the tax due ments. Section 239-7, HRS, allows the payment
at a rate of 5% per month, or part of a month, up of the public service company tax to be made in
You may file the applicable tax return any time to a maximum of 25%. If you file and pay a return four equal installments on April 20, June 20, Sep-
before the 6-month period ends. late, attach a full explanation with the return. tember 20, and December 20. Section 241-5,
HRS, allows the payment of the franchise tax due
4. Where to File. — Submit this form to: Failure to Pay After Filing Timely Return. — in four equal installments. The first installment
HAWAII DEPARTMENT OF TAXATION The penalty for failure to pay the tax after filing a shall be paid on or before the twentieth day of the
P. O. Box 1530 timely return is 20% of the tax unpaid within 60 fourth month following the close of the fiscal year
Honolulu, Hawaii 96806-1530 days of the prescribed due date. The 60-day pe- (April 20 for calendar year taxpayers). This form
5. How to Fill Out This Form. — Fill in the riod is calculated beginning with the prescribed has incorporated the payment of the first quar-
spaces with the entity’s name, address, Federal due date even if the prescribed due date falls on terly installment or the 5th monthly installment for
Employer Identification Number, and Hawaii Tax a Saturday, Sunday, or legal holiday. certain taxpayers whose total tax liability exceeds
I.D. No., if any. Below that indicate the applicable These penalties are in addition to any interest $100,000 of this tax payable for the taxable year.
tax form to which the extension relates. charged on underpayment or nonpayment of tax. An extension of time to file your tax return will not
extend the time to pay your tax. Therefore, you
6. How to Claim Credit for Payment Made 9. Interest. — Interest at the rate of 2/3 of 1% must pay the amount of tax shown on line 4c in
With This Form. — Show the amount paid (line per month, or part of a month, shall be assessed full with this form.
4c) with this form on the applicable tax return. on unpaid taxes and penalties beginning with the
7. Granting of Extension. — An automatic first calendar day after the date prescribed for
extension of time for filing a return shall be al- payment, whether or not that first calendar day
lowed only upon the following two conditions: falls on a Saturday, Sunday, or legal holiday.
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