To submit the Hawaii Partnership Return of Income form (N-20), complete all required fields accurately and ensure the form is signed. Attach any necessary schedules and statements. You can mail the completed form and attachments to the Hawaii Department of Taxation at P.O. Box 3559, Honolulu, HI 96811-3559. For those opting for electronic submission, visit the Hawaii Department of Taxation's official website to upload the completed form through their online portal. Alternatively, you can fax the documents to the Department of Taxation at (808) 587-1488. Make sure to meet all submission deadlines to avoid penalties.

For the Hawaii Partnership Return of Income form, important dates for 2024 and 2025 include the following: April 15, 2024: Deadline to file the 2023 tax year return, unless an extension is filed. October 15, 2024: Deadline to file the 2023 tax year return if an extension was filed. April 15, 2025: Deadline to file the 2024 tax year return, unless an extension is filed. October 15, 2025: Deadline to file the 2024 tax year return if an extension was filed.

The purpose of the Hawaii Partnership Return of Income form (N-20) is to report the income, deductions, and distributions of a partnership operating in Hawaii. This form ensures that partnerships comply with state tax regulations and accurately report their financial activities for the tax year. It provides the necessary information for calculating the partnership's tax liability and any applicable credits or adjustments. Partnerships must complete this form to account for all sources of income, deductions, and credits specific to the state of Hawaii. This includes reporting gross receipts, cost of goods sold, and expenses related to the operation of the business. Accurate completion of the form helps determine the partnership's ordinary income and any Hawaii-specific adjustments. Additionally, the form requires detailed information about the distribution of income among partners, along with any credits or deductions each partner is entitled to. By submitting this form, partnerships fulfil their regulatory obligations and contribute to the overall compliance with Hawaii's tax laws, ensuring the proper allocation of tax responsibilities among partners.

• 1. Partnership Name: The legal name of the partnership as registered with the state.
• 2. Federal Employer I.D. No.: The partnership's Federal Employer Identification Number assigned by the IRS.
• 3. Business Code No.: The business code number from federal Form 1065.
• 4. Principal Business Activity: A description of the partnership's primary business activity.
• 5. Hawaii Tax I.D. No.: The partnership's Hawaii Tax Identification Number.
• 6. Gross receipts or sales: Total gross receipts or sales for the tax year.
• 7. Returns and allowances: Amounts for returns and allowances to be subtracted from gross receipts or sales.
• 8. Cost of goods sold: The cost of goods sold by the partnership, subtracted from gross receipts to calculate gross profit.
• 9. Ordinary income (loss) from other partnerships, estates, and trusts: Income or loss from other partnerships, estates, and trusts, as reported on federal Form 1065.
• 10. Net farm profit (loss): Net profit or loss from farming activities, attached with federal Schedule F (Form 1040).
• 11. Net gain (loss) from federal Form 4797: Net gain or loss from the sale or exchange of business property, from federal Form 4797.
• 12. Other income (loss): Any other sources of income or loss.
• 13. TOTAL income (loss): Sum of all income or loss sources reported.
• 14. TOTAL deductions: Sum of all deductions for the tax year.
• 15. Ordinary income (loss) from trade or business activities before Hawaii adjustments: Ordinary income or loss before Hawaii-specific adjustments.
• 16. Deductions allowable for federal tax purposes but not allowable for Hawaii tax purposes: Deductions allowed for federal tax purposes but either not allowed or partially allowed for Hawaii tax purposes.
• 17. Net gain or (loss) from Schedule D-1: Net gain or loss from Schedule D-1, Part II, line 19.
• 18. Hawaii jobs credit: Portion of the Hawaii jobs credit claimed for the current year.
• 19. Other additions: Any other additions to income, as per attached schedules.
• 20. Total additions: Total of all income additions.
• 21. Net gain (loss) from federal Form 4797 (line 6 above): Net gain or loss from federal Form 4797, Part II, line 17.
• 22. Federal employment credits: Federal employment credits applicable to the partnership.
• 23. Other deductions: Any other deductions allowable for Hawaii tax purposes.
• 24. Total deductions: Total of all deductions reported.
• 25. Ordinary income (loss) from trade or business activities for Hawaii tax purposes: Net ordinary income or loss for Hawaii tax purposes, after all adjustments and deductions.
• 26. Payment due: Payment due for any taxes owed, as per instructions.
• 27. Declaration: Declaration statement signed by general partner or LLC member, confirming the accuracy and truthfulness of the form.
• 28. Preparer's Information: Information about the tax preparer, if applicable, including name, ID number, and firm details.

Failing to submit the Hawaii Partnership Return of Income form (N-20) can result in penalties and legal consequences. The Hawaii Department of Taxation may impose fines and additional assessments for late or missing filings.

• Penalties: Financial penalties and interest charges for late or missed submissions.
• Legal Consequences: Possible legal action taken by the state for failure to comply with tax laws.
• Loss of Good Standing: Potential loss of good standing status for the partnership with state authorities.

• 1. Operating Partnership: When a partnership operates in Hawaii and earns income that must be reported.
• 2. Initial Tax Year: When a newly formed partnership files its initial tax return.
• 3. Amended Return: When a partnership needs to amend a previously filed return.
• 4. IRS Adjustments: When there are IRS adjustments affecting Hawaii taxes that need to be reported.
• 5. Annual Filing: When a partnership files its annual tax return as required by state law.