Instructions For Form N-323 - Department Of Taxation State Of Hawaii Page 2
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3INSTRUCTIONS FORM N-323 (REV. 2012)
PAGE 2
Part IV: Carryover of the Individual Development
g. Carryover of the Renewable Energy
Account Contribution Tax Credit
Technologies Income Tax Credit (For
Systems Installed and Placed In
Line 12 — Complete the Individual Development Account
Service Before July 1, 2009) ..........
Contribution Tax Credit Worksheet in these instructions and
h. Renewable Energy Technologies
enter the result on line 12.
Income Tax Credit (Nonrefundable) ..
Line 14 — This line is for the carryover of any unused individual
Low-Income Housing Tax Credit .....
i.
development account contribution tax credit.
j.
High Technology Business
Line 15 — Compare the amounts on lines 13 and 14. Enter the
Investment Tax Credit ............
smaller of line 13 or 14 here. This is your maximum credit allowed
Carryover of the Technology
k.
for this taxable year.
Infrastructure Renovation Tax Credit ..
Line 16 — This represents your carryover of unused individual
l.
Add lines a through k. Enter
development account contribution tax credit which exceed your net
the amount here and on line 17 ......
income tax liability and may be used as a credit against your net
income tax liability in subsequent years until exhausted.
Part VI: Carryover of the Renewable Energy
INDIVIDUAL DEVELOPMENT ACCOUNT CONTRIBUTION
Technologies Income Tax Credit (For Systems Installed
TAX CREDIT WORKSHEET
and Placed In Service Before July 1, 2009)
Tax Credit
Amount
Line 22 — The law requires that ALL other credits offset a
a. Income Taxes Paid to Another
taxpayer’s tax liability BEFORE allowing a renewable energy
State or Foreign Country .......
technologies income tax credit (for systems installed and placed
b.
Enterprise Zone Tax Credit ....
in service before July 1, 2009). Complete the Renewable Energy
Technologies Income Tax Credit (For Systems Installed and
c.
Carryover of the Energy
Conservation Tax Credit .........
Placed In Service Before July 1, 2009) Tax Credit Worksheet in
these instructions and enter the result on line 22.
d. Credit for Employment of
Vocational Rehabilitation
Line 24 — This line is for the carryover of any unused renewable
Referrals ................................
energy technologies income tax credit (for systems installed and
e.
Add lines a through d. Enter
placed in service before July 1, 2009).
the amount here and on line 12.......
Line 25 — Compare the amounts on lines 23 and 24. Enter the
smaller of line 23 or 24 here. This is your maximum credit allowed
for this taxable year.
Part V: Carryover of the Residential Construction and
Line 26 — This represents your carryover of unused renewable
energy technologies income tax credit (for systems installed and
Remodeling Tax Credit
placed in service before July 1, 2009) which exceed your net income
Line 17 — The law requires that ALL other credits offset a
tax liability and may be used as a credit against your net income tax
taxpayer’s tax liability BEFORE allowing a residential construction
liability in subsequent years until exhausted.
and remodeling tax credit. Complete the Residential Construction
and Remodeling Tax Credit Worksheet in these instructions and
RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT
enter the result on line 17.
(FOR SYSTEMS INSTALLED AND PLACED
IN SERVICE BEFORE JULY 1, 2009)
Line 19 — This line is for the carryover of any unused residential
TAX CREDIT WORKSHEET
construction and remodeling tax credit.
Tax Credit
Amount
Line 20 — Compare the amounts on lines 18 and 19. Enter the
smaller of line 18 or 19 here. This is your maximum credit allowed
a. Income Taxes Paid to Another
for this taxable year.
State or Foreign Country .......
Line 21 — This represents your carryover of unused residential
b.
Enterprise Zone Tax Credit ....
construction and remodeling tax credit which exceed your net
c.
Carryover of the Energy
income tax liability and may be used as a credit against your net
Conservation Tax Credit .........
income tax liability in subsequent years until exhausted.
d. Credit for Employment of
Vocational Rehabilitation
RESIDENTIAL CONSTRUCTION AND REMODELING
Referrals ................................
TAX CREDIT WORKSHEET
e.
Carryover of the Individual
Tax Credit
Amount
Development Account
Contribution Tax Credit ..........
a. Income Taxes Paid to Another
State or Foreign Country .......
f.
Credit for School Repair and
Maintenance ..........................
b.
Enterprise Zone Tax Credit ....
g. Add lines a through f. Enter
c.
Carryover of the Energy
the amount here and on line 22.......
Conservation Tax Credit .........
d. Credit for Employment of
Vocational Rehabilitation
Part VII: Carryover of the Technology Infrastructure
Referrals ................................
Renovation Tax Credit
e.
Carryover of the Individual
Development Account
Line 27 — The law requires that ALL other credits offset a
Contribution Tax Credit ..........
taxpayer’s tax liability BEFORE allowing a technology infrastructure
renovation tax credit. Complete the Technology Infrastructure
f.
Credit for School Repair and
Renovation Tax Credit Worksheet in these instructions and enter
Maintenance ..........................
the result on line 27.
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