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FORM STATE OF HAWAII—DEPARTMENT OF TAXATION
N-168(REV. 2023) Income Averaging for Farmers and Fishermen 2023
Attach to Form N-11 or N-15
Name Social Security Number
1. Enter the taxable income from your 2023 Form N-11, line 26; or Form N-15, line 43 ................................................... 1
2. Enter yourelected farm income. Do not enter more than the amount on line 1. (See Instructions) .......................... 2
3. Line 1 minus line 2. ......................................................................................................................................................... 3
4. Figure the tax on the amount on line 3 using the 2023 tax rates. (See Instructions) .................................................... 4
5. If you used Form N-168 to figure your tax for:
2022, enter the amount from your 2022 Form N-168, line 11.
•
2021 but not 2022, enter the amount from your 2021 Form N-168, line 15.
•
2020 but not 2021 or 2022, enter the amount from your 2020 Form N-168, line 3.
•
Otherwise, enter the taxable income from your 2020 Form N-11, line 26; N168_I 2023A 01 VID01
or Form N-15, line 43. If zero or less, see Instructions .......................................... 5
6. Divide the amount on line 2 by 3.0 ........................................................................ 6
7. Combine lines 5 and 6. If zero or less, enter -0-. ................................................... 7
8. Figure the tax on the amount on line 7 using the 2020 tax rates. (See Instructions) .................................................... 8
9. If you used Form N-168 to figure your tax for:
2022, enter the amount from your 2022 Form N-168, line 15.
•
2021 but not 2022, enter the amount from your 2021 Form N-168, line 3.
•
Otherwise, enter the taxable income from your 2021 Form N-11, line 26; or
Form N-15, line 43. If zero or less, see Instructions .............................................. 9
10. Enter the amount from line 6 .................................................................................. 10
11. Combine lines 9 and 10. If less than zero, enter as a negative amount. ............... 11
12. Figure the tax on the amount on line 11 using the 2021 tax rates. (See Instructions) .................................................. 12
13. If you used Form N-168 to figure your tax for 2022, enter the amount
from your 2022 Form N-168, line 3. Otherwise, enter the taxable income
from your 2022 Form N-11, line 26; or Form N-15, line 43. If zero or less,
see Instructions ....................................................................................................... 13
14. Enter the amount from line 6 .................................................................................. 14
15. Combine lines 13 and 14. If less than zero, enter as a negative amount. ............. 15
16. Figure the tax on the amount on line 15 using the 2022 tax rates. (See Instructions) .................................................. 16
17. Add lines 4, 8, 12, and 16 ............................................................................................................................................... 17
18. If you used Form N-168 to figure your tax for:
2022, enter the amount from your 2022 Form N-168, line 12.
•
2021 but not 2022, enter the amount from your 2021 Form N-168, line 16.
•
2020 but not 2021 or 2022, enter the amount from your 2020 Form N-168, line 4.
•
Otherwise, enter the tax from your 2020 Form N-11, line 27; or Form N-15,
line 44. (See Instructions) ....................................................................................... 18
19. If you used Form N-168 to figure your tax for:
2022, enter the amount from your 2022 Form N-168, line 16.
•
2021 but not 2022, enter the amount from your 2021 Form N-168, line 4.
•
Otherwise, enter the tax from your 2021 Form N-11, line 27; or Form N-15,
line 44. (See Instructions) ....................................................................................... 19
20. If you used Form N-168 to figure your tax for 2022, enter the amount
from your 2022 Form N-168, line 4. Otherwise, enter the tax from your
2022 Form N-11, line 27; or Form N-15, line 44. (See Instructions) ...................... 20
21. Add lines 18 through 20 .................................................................................................................................................. 21
22. Tax. Line 17 minus line 21. Also include this amount in the total tax on Form N-11, line 27; or Form N-15, line 44. .. 22
Caution. Your tax may be less if you figure it using the 2023 Tax Table, Tax Rate Schedules, or Capital Gains Tax
Worksheet. Attach Form N-168 only if you are using it to figure your tax.
FORM N-168 (REV. 2023)
ID NO 01