Screen HIOthTax - Hawaii Other Taxes (1120)

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Additional Taxes

Interest due under look-back method - completed long-term contracts
Enter the interest due under the look-back method for completing long-term contracts. The application automatically transfer the interest computed on federal Form 8697 to this field.

S Corporation Information

LIFO recapture tax
Enter the additional tax due to LIFO recapture for the corporation’s last year as a C Corporation or for the tax year that the C Corporation transferred LIFO inventory to the corporation in a nonrecognition transaction, whichever applies.
C corporation taxable income
Enter the Hawaii taxable income as calculated for a C Corporation to calculate the excess net passive income tax, the tax on certain capital gains, and the tax on built-in gains.

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