§241-5  Returns; payment of tax. 
Returns made on the basis of the calendar year shall be made and filed, and the
tax imposed by this chapter shall be paid, on or before April 20 following the
close of the calendar year.  Returns made on the basis of a fiscal year shall
be made and filed, and in such case the tax imposed by this chapter shall be
paid, on or before the twentieth day of the fourth month following the close of
the fiscal year.



A taxpayer may elect to pay the tax in four
equal installments, in which case the first installment shall be paid on the
date prescribed for the payment of the tax, the second installment shall be
paid on the twentieth day of the second month, the third installment on the
twentieth day of the fifth month, and the fourth installment on the twentieth
day of the eighth month after such date.  Notwithstanding the preceding, if the
total tax liability under this chapter for the taxable year exceeds $100,000,
the taxes so levied shall be payable in twelve equal installments, in which
case the first installment shall be paid on or before the tenth day of the
first month following the close of the taxable year, and the remaining
installments shall be paid on or before the tenth day of each calendar month
after such date.  If any installment is not paid on or before the date fixed
for its payment, the department, at its election, may cause the balance of the
tax unpaid to become payable upon not less than ten days' notice and demand,
and this amount shall be paid upon the date so fixed in the notice and demand
from the department.  The department shall prescribe the forms in which returns
shall be made.



The provisions of chapter 235 regarding the
limitation period for assessment and refunds shall run from the filing of the
return for the taxable year, or the due date prescribed for the filing of the
return, whichever is later. [L Sp 1957, c 1, pt of §10(a); Supp, §127-5; HRS
§241-5; am L 1992, c 38, §3]