Instructions for Form F-1 Franchise Tax Return for Banks, Building and Loan Associations, Financial Services Loan Companies, Other Financial Corporations, and Small Business Investment Companies - Hawaii

This document contains official instructions for Form F-1 , Franchise Tax Return for Banks, Building and Loan Associations, Financial Services Loan Companies, Other Financial Corporations, and Small Business Investment Companies - a form released and collected by the Hawaii Department of Taxation.

FAQ

Q: What is Form F-1?A: Form F-1 is the Franchise Tax Return for Banks, Building and Loan Associations, Financial Services Loan Companies, Other Financial Corporations, and Small Business Investment Companies.

Q: Who needs to file Form F-1?A: Banks, Building and Loan Associations, Financial Services Loan Companies, Other Financial Corporations, and Small Business Investment Companies in Hawaii need to file Form F-1.

Q: What is the purpose of Form F-1?A: The purpose of Form F-1 is to report and calculate the franchise tax owed by the above-mentioned entities in Hawaii.

Q: When is the deadline to file Form F-1?A: The deadline to file Form F-1 is on or before the 20th day of the fourth month following the close of the taxable year.

Q: Are there any penalties for late filing of Form F-1?A: Yes, there are penalties for late filing of Form F-1. The penalty is 5% of the tax due for each month or part of a month that the return is late, up to a maximum of 25%.