Instructions for Form N-330 Credit for School Repair and Maintenance - Hawaii

Form N-330 Credit for School Repair and Maintenance - Hawaii

This document contains official instructions for Form N-330 , Credit for School Repair and Maintenance - a form released and collected by the Hawaii Department of Taxation. An up-to-date fillable Form N-330 is available for download through this link.

FAQ

Q: What is Form N-330?A: Form N-330 is a form used to claim the Credit for School Repair and Maintenance in Hawaii.

Q: Who can file Form N-330?A: Schools in Hawaii who have incurred expenses for repair and maintenance of school facilities can file Form N-330.

Q: What is the purpose of Form N-330?A: The purpose of Form N-330 is to claim a tax credit for the expenses incurred for repair and maintenance of school facilities in Hawaii.

Q: What expenses can be claimed on Form N-330?A: Expenses for repair and maintenance of school facilities, including materials and labor costs, can be claimed on Form N-330.

Q: Are there any deadlines for filing Form N-330?A: Yes, Form N-330 must be filed by the last day of the fourth month following the close of the taxable year.

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

Q: How much is the credit for school repair and maintenance?A: The credit amount is 10% of the qualified expenses, up to a maximum of $100,000 per taxable year.

Q: Is the credit refundable?A: No, the credit for school repair and maintenance is not refundable. It can only be used to offset Hawaii state income tax liability.