Form N-312 Capital Goods Excise Tax Credit - Hawaii

What Is Form N-312?

This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form N-312?
A: Form N-312 is a form used to claim the Capital Goods Excise Tax Credit in the state of Hawaii.

Q: What is the Capital Goods Excise Tax Credit?
A: The Capital Goods Excise Tax Credit is a tax credit available in Hawaii for certain capital goods used in qualified business activities.

Q: Who is eligible to claim the Capital Goods Excise Tax Credit?
A: Eligible individuals and businesses that have purchased or leased qualified capital goods for use in qualified business activities in Hawaii may claim the tax credit.

Q: What are qualified capital goods?
A: Qualified capital goods are tangible personal property, machinery, and equipment used directly and predominantly in qualified business activities.

Q: What are qualified business activities?
A: Qualified business activities include manufacturing, processing, assembling, and other activities that result in the creation of tangible personal property in Hawaii.

Q: What is the purpose of the Capital Goods Excise Tax Credit?
A: The purpose of the tax credit is to encourage investment in capital goods and promote economic growth in Hawaii.

Q: How do I claim the Capital Goods Excise Tax Credit?
A: To claim the tax credit, you must file Form N-312 with the Hawaii Department of Taxation.

Q: Are there any limitations or restrictions on the tax credit?
A: Yes, there are limitations and restrictions on the tax credit, including a maximum credit amount and a sunset date for certain activities.