Instructions For Form N-323 - Department Of Taxation State Of Hawaii
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INSTRUCTIONS
STATE OF HAWAII
__
DEPARTMENT OF TAXATION
FORM N-323
INSTRUCTIONS FOR FORM N-323
(REV. 2012)
CARRYOVER OF TAX CREDITS
GENERAL INSTRUCTIONS
ENERGY CONSERVATION
The energy conservation and residential construction and re-
TAX CREDIT WORKSHEET
modeling tax credits expired on June 30, 2003. You may claim the
Tax Credit
Amount
tax credit(s) only if you have a carryover of the tax credit(s) from
a. Income Taxes Paid to Another
a prior year and a proper claim of the credit(s) was made in the
State or Foreign Country .......
applicable prior year.
b.
Enterprise Zone Tax Credit ....
See Form N-342, Renewable Energy Technologies Income Tax
Credit for Systems Placed in Service on or After July 1, 2009, for
c.
Add lines a through b. Enter
the amount here and on line 2.
the credit available for current system installations. For systems
installed and placed in service before July 1, 2009, you may claim
the credit only if you have a carryover of the tax credit from a prior
year.
Part III: Carryover of the Hotel Construction and
Remodeling Tax Credit
The individual development account contribution tax credit ex-
pired on December 31, 2004. You may claim the credit only if you
Line 7 — The law requires that ALL other credits offset a
have a carryover of the credit from a prior year and a proper claim
taxpayer’s tax liability BEFORE allowing a hotel construction and
of the credit was made in the applicable prior year.
remodeling tax credit. Complete the Hotel Construction and
Each taxpayer subject to Hawaii’s net income tax and transient
Remodeling Tax Credit Worksheet in these instructions and
accommodations tax was able to claim a hotel construction and
enter the result on line 7.
remodeling tax credit for a qualified hotel facility located in Hawaii.
Line 9 — This line is for the carryover of any unused hotel
A nonrefundable tax credit of 10 percent was available for qualified
construction and remodeling tax credit.
construction or renovation costs incurred after November 1, 2001,
Line 10 — Compare the amounts on lines 8 and 9. Enter the
but before July 1, 2003. The credit changed to a refundable 4 per-
smaller of line 8 or 9 here. This is your maximum credit allowed for
cent credit for qualified construction or renovation costs incurred
this taxable year.
after June 30, 2003 through December 31, 2005. See Department
of Taxation Announcement No. 2001-20.
Line 11 — This represents your carryover of unused hotel
construction and remodeling tax credit which exceed your net
The hotel construction and remodeling tax credit is not available
income tax liability and may be used as a credit against your net
for taxable years beginning after December 31, 2005. However,
income tax liability in subsequent years until exhausted.
you may claim the credit only if you have a carryover of the credit
for costs incurred after November 1 2001, but before July 1, 2003,
HOTEL CONSTRUCTION AND REMODELING
and a proper claim of the credit was made in the applicable prior
TAX CREDIT WORKSHEET
year.
Tax Credit
Amount
The technology infrastructure renovation tax credit expired on
December 31, 2010. You may claim the credit only if you have a
a. Income Taxes Paid to Another
State or Foreign Country .......
carryover of the credit from a prior year and a proper claim of the
credit was made in the applicable prior year.
b.
Enterprise Zone Tax Credit ....
SPECIFIC INSTRUCTIONS
c.
Carryover of the Energy
Conservation Tax Credit .........
Part I: Adjusted Tax Liability
d. Credit for Employment of
Vocational Rehabilitation
Line 1 — Enter your adjusted tax liability from the appropriate
Referrals ................................
line of your tax return.
e.
Carryover of the Individual
Development Account
Part II: Carryover of the Credit for Energy Conservation
Contribution Tax Credit ..........
Line 2 — Complete the Energy Conservation Tax Credit
f.
Credit for School Repair and
Worksheet in these instructions and enter the result on line 2.
Maintenance ..........................
Line 4 — This line is for the carryover of any unused energy
g. Carryover of the Renewable Energy
Technologies Income Tax Credit (For
conservation tax credit.
Systems Installed and Placed In
Line 5 — Compare the amounts on lines 3 and 4. Enter the
Service Before July 1, 2009) ..........
smaller of line 3 or 4 here. This is your maximum credit allowed for
h. Renewable Energy Technologies
this taxable year.
Income Tax Credit (Nonrefundable) ..
Line 6 — This represents your carryover of unused energy
Low-Income Housing Tax Credit .....
i.
conservation tax credit which exceed your net income tax liability
and may be used as a credit against your net income tax liability in
j.
High Technology Business
Investment Tax Credit ............
subsequent years until exhausted.
Carryover of the Technology
k.
Infrastructure Renovation Tax Credit ..
l.
Carryover of the Residential
Construction and Remodeling
Tax Credit ...............................
m. Add lines a through l. Enter
the amount here and on line 7.
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