This version of the form is not currently in use and is provided for reference only. Download this version of Instructions for Form N-66 for the current year.
This document contains official instructions for Form N-66 , Real Estate Investment Mortgage Conduit Income Tax Return - a form released and collected by the Hawaii Department of Taxation. An up-to-date fillable Form N-66 is available for download through this link.
Q: What is Form N-66?
A: Form N-66 is the Real Estate Investment Mortgage Conduit Income Tax Return for Hawaii.
Q: Who should file Form N-66?
A: Real estate investment mortgage conduits (REMICs) in Hawaii should file Form N-66.
Q: What is a Real Estate Investment Mortgage Conduit (REMIC)?
A: A REMIC is a type of financial entity that holds a pool of mortgages and issues mortgage-backed securities.
Q: What is the purpose of Form N-66?
A: Form N-66 is used to report the income, deductions, and tax liability of a REMIC in Hawaii.
Q: When is the deadline to file Form N-66?
A: Form N-66 must be filed by the 20th day of the 4th month following the close of the REMIC's taxable year.
Q: Are there any penalties for late filing of Form N-66?
A: Yes, there are penalties for late filing of Form N-66, including interest charges and late payment penalties.
Q: What are the important sections of Form N-66?
A: Some important sections of Form N-66 include Schedule A - Net Income (Loss) Reconciliation and Schedule B - Taxable Income (Loss) Reconciliation.
Q: Are there any additional forms or schedules that need to be attached with Form N-66?
A: Yes, depending on the specific circumstances of the REMIC, additional forms or schedules may need to be attached, such as Schedule K-1s for the investors in the REMIC.
Instruction Details:
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