Instructions for Form N-342 Renewable Energy Technologies Income Tax Credit - Hawaii

Form N-342 Renewable Energy Technologies Income Tax Credit - Hawaii

This document contains official instructions for Form N-342 , Renewable Energy Technologies Income Tax Credit - a form released and collected by the Hawaii Department of Taxation. An up-to-date fillable Form N-342 is available for download through this link.

FAQ

Q: What is Form N-342?A: Form N-342 is a form used to claim the Renewable Energy Technologies Income Tax Credit in Hawaii.

Q: What is the Renewable Energy Technologies Income Tax Credit?A: The Renewable Energy Technologies Income Tax Credit is a tax credit provided by the state of Hawaii for taxpayers who install renewable energy systems.

Q: Who is eligible for the Renewable Energy Technologies Income Tax Credit?A: Taxpayers who install eligible renewable energy systems in Hawaii are eligible for the income tax credit.

Q: What is considered an eligible renewable energy system?A: Eligible renewable energy systems include solar, wind, hydroelectric, and geothermal systems.

Q: How much is the income tax credit?A: The amount of the income tax credit is 35% of the system cost, with a maximum credit of $5,000 per system.

Q: What is the deadline for filing Form N-342?A: Form N-342 must be filed with your Hawaii state income tax return by the due date of the return.