Form N-326 - Technology Infrastructure Renovation Tax Credit - 2011
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STATE OF HAWAII—DEPARTMENT OF TAXATION
TECHNOLOGY INFRASTRUCTURE
TAX
RENOVATION TAX CREDIT
FORM
YEAR
N-326
2011
(REV. 2011)
Or fiscal year beginning _____________________, 2011, and ending ___________________, 20____
ATTACH THIS SCHEDULE TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP
Name
SSN or FEIN
NOTE: The Technology Infrastructure Renovation Tax Credit expired on December 31, 2010. You may claim the tax credit only if
(1) you received a distributive share of renovation costs from a partnership, trust, estate, or S corporation, or (2) you have a
carryover of the tax credit from a prior year.
NOTE: If you are claiming the Ethanol Facility Tax Credit, no other credit can be claimed for the taxable year. You may only claim a
tax credit carried over from a previous year.
1.
Flow through of renovation costs received from other entities, if any. Check the applicable box below.
Enter the name and Federal Employer I.D. No. of Entity:
______________________________________________________________________
a S corporation shareholder — enter total from 2010 Schedule K-1 (Form N-35), line 12g and/or
2011 Schedule K-1 (Form N-35), line 16g. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Partner — enter total from 2010 and/or 2011 Schedule K-1 (Form N-20), line 20. . . . . . . . . .
c Beneficiary — enter total from 2010 and/or 2011 Schedule K-1 (Form N-40), line 9 . . . . . . . .
1
For N-20, N-35, N-40 filers, stop here and see the instructions before proceeding to line 2.
2.
2
Total tax credit earned in the taxable year. Multiply line 1 by 4% (.04) . . . . . . . . . . . . . . . . . .
3.
3
Carryover of unused technology infrastructure renovation tax credit from prior year. . . . . . . . . . .
4.
4
Tentative current year technology infrastructure renovation tax credit — Add lines 2 and 3. . . . . . . .
Tax Liability and Credit Limitations (Not to be completed by Form N-20 and Form N-35 filers.)
5.
a Individuals — Enter tax liability amount from Form N-11 or, if applicable, Form N-15. . . . . . . . .
b Corporations — Enter tax liability from Form N-30. . . . . . . . . . . . . . . . . . . . . . . . . . .
c Other filers — Enter your income tax liability, before credits, from the applicable form. . . . . . . .
5
6.
6
If you are claiming other credits, complete the credit worksheet in the instructions and enter the total here. .
7.
Income tax liability, as adjusted, line 5 minus line 6. If the result is zero or less than zero,
7
enter zero on line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
Total technology infrastructure renovation tax credit — Enter the smaller of line 4 or line 7.
Enter this amount, rounded to the nearest dollar for individual taxpayers, on the appropriate line
for the credit on Schedule CR (for Form N-11, N-15, N-30 and N-70NP filers), or on Form N-40,
8
Schedule E (for the estate’s or trust’s share), whichever is applicable. . . . . . . . . . . . . . . . . . .
9.
Carryover of unused credit
a Line 8 minus line 2. If the difference is less than zero, enter zero.
9a
. . . . . . . . . . . . . . . . .
b Line 3 minus line 9a. Enter the difference here. The amount of unused tax credit may be
carried over and used as a credit against your income tax liability in subsequent years until
9b
exhausted. If the difference is less than zero, enter zero. . . . . . . . . . . . . . . . . . . . . . .
SEE INSTRUCTIONS ON BACK
FORM N-326
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