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Hawaii Free Printable Form N-340 (Rev.2022) Motion Picture, Digital Media, and Film Production Income Tax Credit for 2024 Hawaii Motion Picture, Digital Media, and Film Production Tax Credit

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Motion Picture, Digital Media, and Film Production Tax Credit
Form N-340 (Rev.2022) Motion Picture, Digital Media, and Film Production Income Tax Credit

STATE OF HAWAII—DEPARTMENT OF TAXATION MOTION PICTURE, DIGITAL MEDIA, AND FILM PRODUCTION INCOME TAX CREDIT FORM (REV. 2022) N-340 20__ Or fiscal year beginning __________________ , 20___, and ending ________________________ , 20____ ATTACH THIS FORM AND THE LETTER FROM DBEDT TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP (see Instructions) Name SSN or FEIN PART I –– TAX CREDIT FOR QUALIFIED PRODUCTION COSTS INCURRED IN A COUNTY WITH A POPULATION OVER 700,000 1. 2. 3. 4. 5. 6. 7. Total qualified production costs incurred for the taxable year qualifying for a 22% tax credit................................................................................................... 1 Qualified production costs on line 1 for which a deduction was taken under Internal Revenue Code Section 179 (election to expense certain depreciable assets) or that have been financed by investments for which a credit was claimed by any taxpayer pursuant to section 235-110.9, HRS............................ 2 Subtract line 2 from line 1.................................................................................... 3 Flow through of qualified production costs qualifying for a 22% tax credit received from other entities, if any. Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity: _________________________________________________________  a S Corp. shareholder — enter the appropriate amount from Schedule K-1 (Form N-35)  b Partner — enter the appropriate amount from Schedule K-1 (Form N-20)  c Beneficiary — enter the appropriate amount from Schedule K-1 (Form N-40)  d Patron — enter amount from federal Form 1099-PATR............................................. 4 Add lines 3 and 4................................................................................................. 5 Tax credit percentage.......................................................................................... 6 22% Multiply line 5 by line 6 and enter the result here..................................................................................................................... 7 PART II –– TAX CREDIT FOR QUALIFIED PRODUCTION COSTS INCURRED IN A COUNTY WITH A POPULATION OF 700,000 OR LESS 8. 9. 10. 11. 12. 13. 14. 15. Total qualified production costs incurred for the taxable year qualifying for a 27% tax credit................................................................................................... 8 Qualified production costs on line 8 for which a deduction was taken under Internal Revenue Code Section 179 (election to expense certain depreciable assets ) or that have been financed by investments for which a credit was claimed by any taxpayer pursuant to section 235-110.9, HRS............................ 9 Subtract line 9 from line 8.................................................................................... 10 Flow through of qualified production costs qualifying for a 27% tax credit received from other entities, if any. Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity: _________________________________________________________  a S Corp. shareholder — enter the appropriate amount from Schedule K-1 (Form N-35)  b Partner — enter the appropriate amount from Schedule K-1 (Form N-20)  c Beneficiary — enter the appropriate amount from Schedule K-1 (Form N-40)  d Patron — enter amount from federal Form 1099-PATR............................................. 11 Add lines 10 and 11............................................................................................. 12 Tax credit percentage.......................................................................................... 13 27% Multiply line 12 by line 13 and enter the result here ............................................................................................................... Motion Picture, Digital Media, and Film Production Income Tax Credit — Add the amounts on lines 7 and 14 and enter the result here, rounded to the nearest dollar, and on the appropriate line for the credit on Schedule CR. .............. PART III –– PAYMENTS TO LOAN-OUT COMPANIES 16. Total payments to loan-out companies .................................................................................................................................... 17. Total withholding payments remitted ....................................................................................................................................... N340_I 2022A 01 VID01 ID NO 01 14 15 16 17 FORM N-340 (REV. 2022)
Extracted from PDF file 2023-hawaii-form-n-340.pdf, last modified November 2022

More about the Hawaii Form N-340 Corporate Income Tax Tax Credit TY 2023

We last updated the Motion Picture, Digital Media, and Film Production Tax Credit in February 2024, so this is the latest version of Form N-340, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form N-340 directly from TaxFormFinder. You can print other Hawaii tax forms here.


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Other Hawaii Corporate Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form N-301 Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return
Form EFT-1 (Obsolete) Authorization for Electronic Funds Transfer
Form N-318 (Obsolete) High Technology Business Investment Tax Credit
Form N-342 Renewable Energy Technologies Income Tax Credit
Form A-6 Tax Clearance Application

Download all HI tax forms View all 165 Hawaii Income Tax Forms


Form Sources:

Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form N-340 from the Department of Taxation in February 2024.

Show Sources >

Form N-340 is a Hawaii Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Hawaii Form N-340

We have a total of twelve past-year versions of Form N-340 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form N-340

Form N-340 (Rev.2022) Motion Picture, Digital Media, and Film Production Income Tax Credit

2022 Form N-340

Form N-340 (Rev. 2022) Motion Picture, Digital Media, and Film Production Income Tax Credit

2021 Form N-340

Form N-340 (Rev. 2020) Motion Picture, Digital Media, and Film Production Income Tax Credit

2020 Form N-340

Form N-340 (Rev. 2020) Motion Picture, Digital Media, and Film Production Income Tax Credit

2019 Form N-340

Form N-340 (Rev. 2019) Motion Picture, Digital Media, and Film Production Income Tax Credit

2018 Form N-340

Form N-340 (Rev. 2018) Motion Picture, Digital Media, and Film Production Income Tax Credit

2017 Form N-340

Form N-340 (Rev. 2016) Motion Picture, Digital Media, and Film Production Income Tax Credit

2016 Form N-340

Form N-340 (Rev. 2016) Motion Picture, Digital Media, and Film Production Income Tax Credit

Forms 2014 - Web Fillable 2015 Form N-340

Form N-340 (Rev. 2014) Motion Picture, Digital Media, and Film Production Income Tax Credit

Forms 2014 - Web Fillable 2014 Form N-340

Form N-340 (Rev. 2014) Motion Picture, Digital Media, and Film Production Income Tax Credit

Forms 2012 - Web Fillable 2012 Form N-340

Form N-340 (Rev. 2012) Motion Picture, Digital Media, and Film Production Income Tax Credit

Forms 2011 - CD Fillable 2011 Form N-340

Form N-340 (Rev. 2011) Motion Picture, Digital Media, and Film Production Income Tax Credit


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