Get Form N 288c State Of Hawaii Ncf131

This guide provides a comprehensive overview of how to fill out the Form N 288c, which is used to apply for a tentative refund of withholding on dispositions by nonresident persons of Hawaii real property interests. Follow the clear step-by-step instructions to ensure accurate completion of the form.

Follow the steps to fill out the Form N 288c correctamente.

1. Press the ‘Get Form’ button to access the form and open it in the editing environment.
2. At the top of Form N-288C, indicate the tax year related to the transaction if it is not a calendar year. Provide the name, address, and identification number (such as Social Security Number or Federal Employer I.D. number) for the transferor/seller applying for the refund.
3. Enter the name of the corporation, partnership, trust, or estate, if applicable. You must also provide the corresponding Federal Employer I.D. number.
4. Fill in the description and location of the Hawaii real property transaction, including completing the tax map key number.
5. On line 1, enter the amount withheld from Form N-288A and ensure to attach a copy of Form N-288A alongside the application.
6. For line 2, enter the sales price as indicated on your closing escrow statement.
7. In line 3, calculate the cost or other basis for the property by considering the purchase price, commission, and any improvements made. Ensure to deduct any depreciation applicable.
8. On line 4, compute the gain by subtracting line 3 from line 2.
9. For line 5, if applicable, calculate the tentative tax on the gain based on the tax rate schedules provided.
10. On line 6, indicate the refund amount by subtracting the tentative tax from the withholding amount. This line must be completed.
11. At the end of the form, sign and date as required, ensuring that all necessary individuals sign, particularly if filing jointly.

Complete your Form N 288c online to ensure a smooth application process.