Instructions for Form N-66 Real Estate Investment Mortgage Conduit Income Tax Return - Hawaii

Form N-66 Real Estate Investment Mortgage Conduit Income Tax Return - Hawaii

This document contains official instructions for Form N-66 , Real Estate Investment Mortgage Conduit Income Tax Return - a form released and collected by the Hawaii Department of Taxation. An up-to-date fillable Form N-66 is available for download through this link.

FAQ

Q: What is Form N-66?A: Form N-66 is the Real Estate Investment Mortgage Conduit Income Tax Return for Hawaii.

Q: Who should file Form N-66?A: Real estate investment mortgage conduits (REMICs) in Hawaii should file Form N-66.

Q: What is a Real Estate Investment Mortgage Conduit (REMIC)?A: A REMIC is a type of financial entity that holds a pool of mortgages and issues mortgage-backed securities.

Q: What is the purpose of Form N-66?A: Form N-66 is used to report the income, deductions, and tax liability of a REMIC in Hawaii.

Q: When is the deadline to file Form N-66?A: Form N-66 must be filed by the 20th day of the 4th month following the close of the REMIC's taxable year.

Q: Are there any penalties for late filing of Form N-66?A: Yes, there are penalties for late filing of Form N-66, including interest charges and late payment penalties.

Q: What are the important sections of Form N-66?A: Some important sections of Form N-66 include Schedule A - Net Income (Loss) Reconciliation and Schedule B - Taxable Income (Loss) Reconciliation.

Q: Are there any additional forms or schedules that need to be attached with Form N-66?A: Yes, depending on the specific circumstances of the REMIC, additional forms or schedules may need to be attached, such as Schedule K-1s for the investors in the REMIC.