Hawaii Releases Updated Declaration of Estimated Income Tax for Individuals

The State of Hawaii Department of Taxation recently released an updated version of Form N-1, Declaration of Estimated Income Tax for Individuals. This form is used by individuals to submit their estimated tax liability for the year in which that income is earned: this updated form will be used for filing year 2018.

 

There are two minor updates to the form for filing year 2018, which are as follows:

  • Under Instructions Section 8 (Penalty), the instructions state that penalties for untimely payments or payments that are less than the estimated tax for the year may be waived in accordance with the penalty waiver rules identified in IRS Publication 505.
  • Additional taxable income classifications were added to the 2018 Tax Rate Schedules.

To review this form in its entirety, please click here.

Author

Paul Ogawa

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.
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