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This version of the form is not currently in use and is provided for reference only. Download this version of
Form N-168
for the current year.
Form N-168 Income Averaging for Farmers and Fishermen - Hawaii
What Is Form N-168?
This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form N-168?
A: Form N-168 is a tax form used specifically for income averaging for farmers and fishermen in Hawaii.
Q: Who can use Form N-168?
A: Form N-168 is specifically for farmers and fishermen in Hawaii.
Q: What is income averaging?
A: Income averaging allows farmers and fishermen to reduce the tax burden by spreading income over a period of years.
Q: Why would farmers and fishermen use income averaging?
A: Farmers and fishermen may choose to use income averaging to lower their taxable income and pay less in taxes.
Q: How does income averaging work?
A: Income averaging allows farmers and fishermen to calculate their tax liability based on an average of their income over the past three years.
Q: Are there any limitations to income averaging?
A: Different rules and limitations may apply to income averaging based on the state and federal tax laws.
Q: When is Form N-168 due?
A: The due date for Form N-168 may vary each year, so it is important to check with the Hawaii Department of Taxation for the specific deadline.
Q: Can I e-file Form N-168?
A: Currently, Hawaii does not support e-filing for Form N-168. It must be filed by mail.
Q: Are there any penalties for not filing Form N-168?
A: If you are required to file Form N-168 and fail to do so, you may be subject to penalties and interest on any taxes owed.
Form Details:
- Released on January 1, 2020;
- The latest edition provided by the Hawaii Department of Taxation;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form N-168 by clicking the link below or browse more documents and templates provided by the Hawaii Department of Taxation.
