Hawaii Solar Tax Credit Form

As a result of sb 855 in 2003 the tax credits were revised and extended to the end of 2007.

Hawaii solar tax credit form. What is the solar tax credit in hawaii. 1 income tax paid to another state or foreign country n 11 n 15 and n 70np filers attach copy of tax return s from other state s or federal form s 1116. Use one form n 342 for each system. The nice part about credit is that it combines with the federal solar tax.

Fast tax reference guide 2017 4 pages 227 kb 02 16 2018. The table below shows the value of the investment tax credit for each technology by year. Solar water heater tax credit 1. 2019 tax year renewable energy technologies income tax credit 2019 for systems installed and placed in service on or after july 1 2009 note.

As we ve discussed on the hawaii solar incentives page here at hawaiisolarhq the tax credit in the aloha state is 35 of the cost of the solar installation or 5 000 whichever is less. The federal business energy investment tax credit itc has been amended a number of times most recently in december 2015. See tax return instruction booklet for more information. A summary of state taxes including information on tax rates forms that must be filed and when taxes must be paid.

The state of hawaii also offers at 50 75 rebate for solar attic fans via local utility companies. Not bad just for putting up solar panels. Tax information release no. Reference sheet with hawaii tax schedule and credits.

Clear form state of hawaii department of taxation form n 342 rev. Outline of the hawaii tax system as of july 1 2019 4 pages 59 kb 2 26 2020. General instructions purpose of form use form n 342 to figure and claim the renewable energy technologies income tax credit retitc under section 235 12 5 hawaii revised statutes hrs. 2012 01 pdf temporary administrative rules relating to the renewable energy technologies income tax credit retitc.

All or part of the credits and the revocation of the election to composite file. The expiration date for solar technologies and wind is based on when construction begins. Use a separate form for each eligible system and for carryover credit s. An owner of real property that has a single family dwelling ohana dwelling farm dwelling duplex or double family dwelling unit s and who installs a solar water heater on the owner s property on or after january 1 2008 shall be entitled to a one time tax credit per tax map key of up to 300.

What s more with hawaii energy s rebate combined with state and federal tax credits you can save nearly 70 on the system purchase price in the first year.