§235-97 Estimates; tax payments; returns.
(b) Net income returns for the taxable year shall be filed with the department on or before the twentieth day of the fourth month following the close of the taxable year, and shall be accompanied by payment of the balance of the tax for the taxable year, or the entire tax for the taxable year, as the case may be. These returns shall be filed both by persons required to make declarations of estimated tax pursuant to this section and by persons not required to make declarations of estimated tax.
(c) At the election of the taxpayer, any installment of the estimated tax may be paid prior to the date prescribed for its payment.
(d) A person who, under the regulations of the department adopted pursuant to subsection (a)(4), is relieved of filing an estimate, shall if the regulations cease to apply by reason of a change of circumstances during the taxable year, file the required estimate on the first quarterly payment date prescribed for payment of estimated taxes, following such change of circumstances, and pay the estimated tax in equal installments computed by allocating the entire amount shown by the estimate for the current taxable year to the remaining quarterly payment dates.
(e) An amendment of an estimate may be filed, under regulations prescribed by the department. If an amendment is filed, the remaining installments, if any, shall be ratably increased or decreased to reflect the increase or decrease in the estimate. The amended estimate may be accompanied by payment of the amount of underpayment, if any, and if so this shall be considered in determining the period of the underpayment as provided in subsection (g).
(f) In the case of any underpayment of estimated tax, except as provided by this subsection, there shall be added to the tax for the taxable year an amount determined at the rate of two-thirds of one per cent a month or fraction of a month upon the amount of the underpayment for the period of the underpayment.
(g) The amounts of taxes withheld from wages or collected at source shall be deemed payments of estimated tax, and an equal part of any such amount shall be deemed paid on each installment date for the taxable year, unless the taxpayer establishes the dates on which all amounts were actually withheld or collected, in which case the amounts so withheld or collected shall be deemed payments of estimated tax on the dates on which such amounts were actually withheld or collected. [L Sp 1957, c 1, pt of §2; am L 1959, c 277, §12; am L Sp 1959 2d, c 1, §16; Supp, §121-31; am L 1967, c 134, §4; HRS §235-97; am L 1979, c 62, §2(12); gen ch 1985; am L 1990, c 16, §3; am L 1991, c 20, §1; am L 1993, c 73, §§5, 6; am L 1995, c 67, §1; am L 1998, c 113, §4; am L 2002, c 190, §1; am L 2003, c 14, §1]