Form N-350 Cesspool Upgrade, Conversion or Connection Income Tax Credit - Hawaii

What Is Form N-350?

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-350?A: Form N-350 is a tax form used in Hawaii.

Q: What is the purpose of Form N-350?A: The purpose of Form N-350 is to claim a tax credit for upgrading, converting, or connecting a cesspool in Hawaii.

Q: Who is eligible to claim the income tax credit for cesspool upgrade, conversion, or connection?A: Hawaii residents who own or operate a cesspool within the state are eligible to claim this income tax credit.

Q: What expenses are eligible for the income tax credit?A: Expenses related to upgrading, converting, or connecting a cesspool to a sewer system or other approved wastewater system are eligible for the income tax credit.

Q: How much is the income tax credit?A: The income tax credit is 50% of the eligible expenses, up to a maximum credit of $10,000 per cesspool.

Q: What is the deadline for filing Form N-350?A: Form N-350 must be filed by December 31st of the year following the year in which the expenses were incurred.

Q: Are there any additional requirements for claiming the income tax credit?A: Yes, taxpayers must provide documentation of the expenses incurred, including invoices and receipts, and obtain a completion inspection report from the appropriate government agency.

Q: Can I claim the income tax credit for expenses incurred in previous years?A: No, the income tax credit can only be claimed for expenses incurred in the current tax year.