N-35: S Corporation Income Tax Return (2025)
Hawaii · Hawaii DoTax · Used for tax years 2025
Form N-35 is Hawaii’s S Corporation Income Tax Return for 2025. It reports the corporation’s income, deductions, taxes and payments, along with shareholders’ pro rata share items attributable to Hawaii and elsewhere.
What you'll need
Have the corporation’s federal employer identification number, Hawaii tax identification number, and business activity code from federal Form 1120S ready.
The form calls for:
- A copy of page 4 of federal Form 1120S. Attach Schedule M-3 if applicable.
- Shareholder details, including names, addresses, SSNs or FEINs, shares owned, and states of residence.
- Income, expense, inventory, tax payment, and withholding information for the entries that apply.
Additional attachments depend on what you report. Examples include:
- Schedule AMD for an amended return.
- Schedule PTE for an electing pass-through entity.
- Schedule D-1 for the gains or losses reported from that schedule.
- Federal Form 8825 for rental real estate income or losses.
- Federal Form 4562 for the section 179 expense deduction.
- Supporting schedules for other income, taxes and licenses, other deductions, and other items where the form requests them.
- Forms N-4 for withholding reported from those forms, and the applicable credit forms for credits claimed.
Common mistakes
- Including nonbusiness items on lines 1a through 20. The form cautions that these lines are only for trade or business income and expenses.
- Deducting oil and gas depletion on line 15. The form specifically says not to deduct it.
- Treating permission to discuss the return as a power of attorney. The form states that the preparer discussion designation does not replace Form N-848, Power of Attorney.
Questions people ask
How do I identify an amended return?
Check the “AMENDED Return” box and attach Schedule AMD.
What does the form require for an electing pass-through entity?
Check the “Electing PTE” box and attach Schedule PTE. The form includes line 22f for pass-through entity tax and Schedule K, line 16m, for the pass-through entity tax credit.
What can I do with an overpayment on the 2025 return?
Line 26 lets you enter the amount you want credited to 2026 estimated tax and the amount you want refunded.
Who signs the return?
The form requires an officer’s signature, the date, and the officer’s printed name and title. It also has a separate signature and information area for a paid preparer.