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FORM N-3

(REV. 2011)

PART I. TAX COMPUTATION FOR CALENDAR YEAR 2012 OR FISCAL YEAR BEGINNING IN 2012

1. Enter the amount of Federal taxable income expected for 2012 ............................................................................................

ADJUSTMENTS TO ARRIVE AT ESTIMATED TAXABLE INCOME FOR

ADD:

HAWAII TAX PURPOSES

2. Amount of capital gains and losses for HAWAII tax purposes:

(a) Net short-term gain ..........................................................................................................................................................

(b) Net long-term capital gain ................................................................................................................................................

(c) Net gain (or loss) from sale or exchange of property other than capital assets ...............................................................

Deduction allowable for federal tax purposes but not allowable or allowable only in part for Hawaii tax purposes - itemize below:

(a) ____________________________________________________________________________________________

(b) ____________________________________________________________________________________________

4. Other adjustments ________________________________________________________________________________

5. Total of items 1 to 4 inclusive ..................................................................................................................................................

DEDUCT:

Dividends from national banks ......................................................................................................

70% of dividends (other than national bank dividends) ...............................................................

Interest on obligations of the United States .................................................................................

Excess of income from sources outside Hawaii received by a foreign or domestic corporation

over deductions attributable to or connected with such income ..................................................

10. Amount of net capital gains and losses as reported on FEDERAL return (this eliminates the

Federal capital gain — see line 2 above for Hawaii) .....................................................................

11. Amortization of casualty losses where election is made to amortize for HAWAII purposes

under section 235-7(f), HRS .........................................................................................................

12. Net operating loss deduction .........................................................................................................

13. Other deductions or adjustments ..................................................................................................

14. Total of items 6 to 13 inclusive ................................................................................................................................................

15. ESTIMATED TAXABLE INCOME OR LOSS FOR HAWAII TAX PURPOSES (Line 5 minus line 14) .....................................

PART II. TAX COMPUTATION WORKSHEET FOR CALENDAR YEAR 2012 OR FISCAL YEAR BEGINNING IN 2012

1. Enter the amount of taxable income for Hawaii tax purposes expected in 2012 (from line 15, PART I) .................................

2. Enter the amount of net long-term capital gain over net short-term capital loss as shown on line 2(b). (If line 2(b) exceeds

line 15, enter an amount equal to that shown on line 15. However, if line 15 shows a loss, enter zero.) ...............................

3. Line 1 minus line 2 ..................................................................................................................................................................

4. a. Tax on capital gain — 4% of the amount shown on line 2 ................................................................................................

Tax on all other taxable income if amount on line 3 is:

(1) Not over $25,000 — enter 4.4% of line 3 ........................................................................

(2) Over $25,000 but not over $100,000 — Enter 5.4% of line 3 ........................................

(250.00)

Subtract $250.00 and enter the difference ......................................................................

(3) Over $100,000 — Enter 6.4% of line 3 ...........................................................................

(1,250.00)

Subtract $1,250.00 and enter difference .........................................................................

Recapture of capital goods excise tax credit, low-income housing tax credit, high technology

business investment tax credit, or important agricultural land qualified agricultural cost tax credit .................................

5. Total estimated tax liability (Add lines 4a, 4b, and 4c) ............................................................................................................

6. Less: Tax credits ....................................................................................................................................................................

7. Total estimated tax due (line 5 minus line 6). ..........................................................................................................................

8. All or part of overpayment from 2011 return credited to estimated tax and payments to date................................................

9. Unpaid balance of estimated tax (line 7 minus line 8). ...........................................................................................................

10. Amount of first installment. Enter this amount also on payment voucher 1. .........................................................................

11. All or part of overpayment from 2011 return credited to estimated tax and payments through the first installment. ..............

12. Unpaid balance of estimated tax (line 7 minus line 11). .........................................................................................................

13. Amount of second installment. Enter this amount also on payment voucher 2. ...................................................................

14. All or part of overpayment from 2011 return credited to estimated tax and payments through the second installment. ........

15. Unpaid balance of estimated tax (line 7 minus line 14). .........................................................................................................

16. Amount of third installment. Enter this amount also on payment voucher 3. ........................................................................

17. All of overpayment from 2011 return credited to estimated tax and payments through the third installment. .........................

18. Unpaid balance of estimated tax (line 7 minus line 17). .........................................................................................................

19. Amount of fourth installment. Enter this amount also on payment voucher 4. .....................................................................