Individual Income Tax

Form N-11 Individual Income Tax Return Resident

Form N-13 Individual Income Tax Return Resident 

Form N-15 Individual Income Tax Return Non Resident

Corporate Income Tax 

Form N-30 Corporation Income Tax Return

Hawaii Income Tax Forms: A Comprehensive Guide

Taxes, whether income tax, sales tax, value-added tax, or any other type, are an essential part of any nation’s financial structure. Specifically, the income tax form is a crucial part of an individual’s financial responsibilities and must be taken seriously. This article will take an in-depth look at Hawaii income tax forms, including relevant updated information and government resources.

Hawaii Income Tax Forms Overview

Every year, the state of Hawaii requires citizens to file their state income tax forms. These income tax forms are submitted to the Hawaii Department of Taxation (DOTAX). The DOTAX oversees the state’s tax laws and procedures and manages the annual tax collection process.

Taxes collected from citizens are used to fund crucial state programs. These programs range from education and infrastructure projects to healthcare, public safety, and various other state-sponsored initiatives.

When to File Hawaii Income Tax Forms

The Hawaii income tax filing deadline is April 15th every year, the same as the Federal income tax deadline. However, if the deadline falls on a weekend or state holiday, the deadline is extended until the next business day. This new deadline date will be announced by DOTAX at least a month before the new deadline.

Tax Forms Available Through the Hawaii Department of Taxation

The following are the most commonly used Hawaii income tax forms:

Hawaii Form N-11: Individual Income Tax Return
Hawaii Form N-13: Non-resident and Part-year Resident Income Tax return
Hawaii Form N-15: Individual Income Tax Return for Residents

Hawaii Department of Taxation also offers e-filing services that enables taxpayers to complete and submit their tax forms electronically. Filing electronically can offer faster processing times for refunds and greater accuracy.

Hawaii State Tax Rates

The state income tax rate in Hawaii is a progressive tax that ranges from 1.4% to 11%. The tax rate is based on an individual’s income level. Hawaii has eleven separate tax brackets, including a top rate of 11%.

Hawaii Standard Deductions

Hawaii State requires taxpayers to use the same standard deduction or itemize deductions on their tax return as their Federal tax return.

Currently, for 2021, the standard deduction in Hawaii is $2,400 for single taxpayers and those married filing separately, $4,800 for married filing jointly, and $3,600 for head-of-household filing.

Credits and Deductions Provided by Hawaii Department of Taxation

Hawaii Department of Taxation provides taxpayers with several credits and deductions to lower their tax return obligations. The most common credits and deductions include:

Hawaii Personal Exemption Credit – Taxpayers can claim a Hawaii personal exemption credit for each Hawaii resident they claim. The credit currently stands at $140 per individual and is applicable for the tax year 2021.

Child Care Credit – Taxpayers who pay for childcare expenses can deduct up to 25% of the cost of care, with a maximum tax credit of $100 per household.

Alternative Fuel Infrastructure Tax Credit – Taxpayers who purchase and install alternative fuel infrastructure for use in Hawaii can claim up to 50% of the installation cost as a tax credit.

Interest Paid on Student Loans – Taxpayers can deduct up to $2,500 from student loan interest they paid throughout the year.

Pensions and Retirement Income Exemption – Hawaii allows individuals age 65 and over to claim an exemption on their income tax return for any retirement income they receive.

Hawaii Additional Information for State Income Tax Forms

Electronic Filing – Hawaii Department of Taxation provides electronic filing for its tax forms. Taxpayers must ensure that their complete and accurate information when filing their state income tax returns electronically.

Refund Status – Taxpayers can check their tax refund status using the official Hawaii Department of Taxation website. The website has a refund status tool that provides up-to-date information on the status of tax refunds.

Hawaii Amended Tax Returns – Taxpayers who need to amend their state income tax return from a previous year must file Form N-15 for that year. The taxpayer must complete all the necessary information, include a copy of their original return form, and explain the reasons for the amendment.

Final Thoughts

In conclusion, tax season can be stressful, but with this comprehensive guide to Hawaii income tax forms, we hope it’s made a little easier. Make sure you have collected all the necessary documents and visit the Hawaii Department of Taxation website for more detailed and up to date information on state-induced tax deadlines and procedures.

Remember, taxes are an essential part of any community’s financial structure, and every citizen should strive to fulfill their financial responsibility to help grow and develop their state.