How Do I Determine My Massachusetts Residency Status?

There are three different categories of resident status under Massachusetts tax law: 1. You are a Full-Year Resident if your legal residence (domicile) is in Massachusetts or if you maintain a permanent place of abode in Massachusetts and during the year spend more than 183 days, in the aggregate, in the state. If you fit this description you should file a Massachusetts Resident Income Tax [...]

What is my Hawaii qualified rental?

Credit for Low-Income Household Renters Each resident taxpayer who occupies and pays rent for real property within the State as his or her residence and who files an individual income tax return for the taxable year, including those who have no income or no income taxable under chapter 235, HRS, may claim a tax credit of $50 per qualified exemption, including the additional exemption for [...]

Hawaii Credit for Low-Income Household Renters

If you occupy and pay rent for real property within the State as your residence, your Hawaii adjusted gross income was less than $30,000, and the rent you paid during 2021 was more than $1,000, you may qualify for this credit. See the instructions for Schedule X, Part I, on page 27. Note: Do not claim this credit if you are being claimed or eligible to be claimed as a dependent by any taxpayer [...]

Should I use the Hawaii Annualized Installment Method?

Form N-220 includes the annualized income installment method and the adjusted seasonal installment method. These estimated tax computation methods are incorporated in the Schedule A section. Under the annualized income installment method, a corporation or S corporation has three sets of periods over which it may annualize income. If the taxpayer is making an election to use one of the optional [...]

Hawaii Underpayment Penalty

Penalties and Interest Late Filing of Return. The penalty for failure to file a return on time is assessed on the tax due at a rate of 5% per month, or part of a month, up to a maximum of 25%. Extensions. If you are unable to file your Hawaii tax return by April 20, 2022, you are automatically granted a 6-month extension without the need to file anything with the Department unless an [...]