×
tax forms found in
Tax Form Code
Tax Form Name

Hawaii Free Printable Form N-342, 2018, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009 for 2019 Hawaii Information Statement Concerning Renewable Energy

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2018-hawaii-form-n-342a.pdf, and you can print it directly from your computer.

Information Statement Concerning Renewable Energy
Form N-342, 2018, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

Clear Form FORM N-342A (REV. 2018) STATE OF HAWAII__DEPARTMENT OF TAXATION TAX YEAR CONCERNING RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT FOR SYSTEMS INSTALLED AND PLACED IN SERVICE ON OR AFTER JULY 1, 2009 2018 INFORMATION STATEMENT (TO BE CLAIMED BY INDIVIDUAL OR CORPORATE SHAREHOLDERS OF S CORPORATIONS, MEMBERS OF PARTNERSHIPS, BENEFICIARIES OF ESTATES OR TRUSTS, OR CONDOMINIUM APARTMENT ASSOCIATIONS) Or fiscal year beginning ____________, 2018, and ending ____________, 20_____. ATTACH THIS STATEMENT TO FORM N-342 Name (S Corporation, Partnership, Estate, or Trust, or Condominium Apartment Association) Social Security Number or Fed. Employer I.D. Number Number and Street   S Corporation    Partnership    Estate or Trust    Condominium Apartment Association City or Town, State and Postal/ZIP Code Name of individual or corporation for whom this statement is being prepared NOTE: Every Hawaii S corporation, partnership, estate, trust, or condominium apartment association is required to prepare this statement for each individual or corporate shareholder, member, or beneficiary, respectively, in order that the prorated amount of such entity’s tax credit may be claimed by the individual or corporate taxpayer. Use a separate form for each eligible system. Also attach a copy of this form as issued to each member to the return of the S corporation, partnership, estate, trust, or condominium apartment association. MEMBERS: USE THE INFORMATION PROVIDED ON THIS STATEMENT TO COMPLETE THE FORM N-342 USED TO CLAIM YOUR SHARE OF THIS TAX CREDIT. ATTACH BOTH THE FORM N-342 AND A COPY OF THIS FORM TO THE RETURN YOU FILE. PHYSICAL PROPERTY ADDRESS WHERE THE SYSTEM WAS INSTALLED AND PLACED IN SERVICE: Address (Number and Street) City or Town Postal/ZIP Code COMPUTATION OF TAX CREDIT SOLAR ENERGY SYSTEM Enter date system was installed and placed in service   ____/____/____ Enter Total Output Capacity, if credit is for an “other solar energy system”   1. Enter your total cost of the qualified solar energy system installed and placed in service in Hawaii..................... 1 2. Enter the amount of consumer incentive premiums, costs used for other credits, and utility rebate, if any, received for the qualifying solar energy system................................................... 2 3. Actual cost of the solar energy system. (Subtract line 2 from line 1 and enter result.).............. 3 4. Is this solar energy system primarily used to heat water for household use?     Yes. Go to line 5.     No. Go to line 15. SYSTEM PRIMARILY USED TO HEAT WATER FOR HOUSEHOLD USE (lines 5 - 14) 5. Enter the amount from line 3 that is installed and placed in service in Hawaii on single-family residential property. 5 6. Enter 35% of line 5 or $2,250, whichever is less......................................................................................................................... 7. Enter the amount from line 3 that is installed and placed in service in Hawaii on multi-family residential property. 7 8. Divide the total square feet of your unit by the total square feet of all units in the multi-family residential property. Enter the decimal (rounded to 2 decimal places). (See instructions.)........ 8 9. Actual per unit cost of the solar energy system. (Multiply line 7 by line 8 and enter result.)...... 9 10. Enter 35% of line 9 or $350, whichever is less........................................................................... 10 11. Multiply line 10 by the number of units you own to which the allocated unit cost on line 9 is applicable. (Number of units you own __________ )............................................................................................................... 12. Enter the amount from line 3 that is installed and placed in service in Hawaii on commercial property................ 12 13. Enter 35% of line 12 or $250,000, whichever is less................................................................................................................... 14. Add lines 6, 11, and 13, and enter result (but not less than zero)............................................................................................... SYSTEM NOT PRIMARILY USED TO HEAT WATER FOR HOUSEHOLD USE (lines 15 - 26) 15. Enter the amount from line 3 that is installed and placed in service in Hawaii on single-family residential property. 15 16. Enter 35% of line 15 or $5,000, whichever is less...................................................................... 16 17. Was this system used as a substitute for a solar water heating system that is required for new single-family residential property constructed on or after January 1, 2010?     Yes. Enter 35% of line 15 or $2,250, whichever is less.     No. Enter zero................................................................................................................ 17 18. Line 16 minus line 17.................................................................................................................................................................. 19. Enter the amount from line 3 that is installed and placed in service in Hawaii on multi-family residential property. 19 20. Divide the total square feet of your unit by the total square feet of all units in the multi-family residential property. Enter the decimal (rounded to 2 decimal places). (See instructions.)........ 20 _____________ 6 11 13 14 18 (Continued on back) FORM N-342A N342A_I 2018A 01 VID01 ID NO 01 Form N-342A (REV. 2018) Page 2 21. Actual per unit cost of the solar energy system. (Multiply line 19 by line 20 and enter result.).. 21 22. Enter 35% of line 21 or $350, whichever is less......................................................................... 22 23. Multiply line 22 by the number of units you own to which the allocated unit cost on line 21 is applicable. (Number of units you own __________ )............................................................................................................... 24. Enter the amount from line 3 that is installed and placed in service in Hawaii on commercial property................ 24 25. Enter 35% of line 24 or $500,000, whichever is less................................................................................................................... 26. Add lines 18, 23, and 25, and enter result (but not less than zero)............................................................................................. Enter date system was installed and placed in service   ____/____/____ WIND-POWERED ENERGY SYSTEM 27. Enter your total cost of the qualified wind-powered energy system installed and placed in service in Hawaii........................................................................................................................ 27 28. Enter the amount of consumer incentive premiums, costs used for other credits, and utility rebate, if any, received for the qualifying wind-powered energy system.................................... 28 29. Actual cost of the wind-powered energy system (Subtract line 28 from line 27 and enter result.).......... 29 30. Enter the amount from line 29 that is installed and placed in service in Hawaii on single-family residential property............................................................................................ 30 31. Enter 20% of line 30 or $1,500, whichever is less....................................................................................................................... 32. Enter the amount from line 29 that is installed and placed in service in Hawaii on multi-family residential property. 32 33. Divide the total square feet of your unit by the total square feet of all units in the multi-family residential property. Enter the decimal (rounded to 2 decimal places). (See instructions.)........ 33 34. Actual per unit cost of the wind-powered energy system. (Multiply line 32 by line 33 and enter result.)............................................................................................................................... 34 35. Enter 20% of line 34 or $200, whichever is less........................................................................ 35 36. Multiply line 35 by the number of units you own to which the allocated unit cost on line 34 is applicable. (Number of units you own __________ )............................................................................................................... 37. Enter the amount from line 29 that is installed and placed in service in Hawaii on commercial property.............. 37 38. Enter 20% of line 37 or $500,000, whichever is less................................................................................................................... 39. Add lines 31, 36, and 38, and enter result (but not less than zero)............................................................................................. DISTRIBUTIVE SHARE OF TAX CREDIT 23 25 26 31 36 38 39 40. Distributive share of solar energy tax credit from another Form N-342A.................................................................................... 40 41. Distributive share of wind-powered energy tax credit from another Form N-342A...................................................................... 41 TOTAL AND DISTRIBUTIVE SHARE OF RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT 42. Total tax credit claimed. Enter the amount from lines 14, 26, or 39, and 40 and 41. .................................................................. 42 43. Distributive share of solar energy tax credit. Each shareholder, partner, member, or beneficiary shall enter this amount on Form N-342, line 40............................................................................................................................................................... 43 44. Distributive share of wind-powered energy tax credit. Each shareholder, partner, member, or beneficiary shall enter this amount on Form N-342, line 41.................................................................................................................................................. 44 GENERAL INSTRUCTIONS For requirements for claiming the renewable energy technologies income tax credit and definitions, see the Instructions for Form N-342. SPECIFIC INSTRUCTIONS Complete one Form N-342A for each individual and corporate shareholder, partner, member, or beneficiary receiving a distributive share of the renewable energy technologies income tax credit. Use a separate form for each eligible system. Attach a copy of the Forms N-342A as issued to each partner, member, beneficiary, or shareholder to the return of the S corporation, partnership, estate, trust, or condominium apartment association. Be sure to enter in the appropriate space (1) the physical property address where the system was installed and placed in service, (2) the date the system was installed and placed in service, and (3) the Total Output Capacity, if the credit being claimed is for an “other solar energy system.” Lines 1 through 42 — Fill in the lines as they apply to your claim. Lines 1 or 27 –– Enter the qualifying cost of the eligible renewable energy technology system installed and placed in service in Hawaii. Lines 2 or 28 –– Enter the dollar amount of any consumer incentive premiums unrelated to the operation of the system or offered with the sale of the system (such as “free solar powered products,” “free gifts,” offers to pay electricity bills, or rebates), costs for which another credit is claimed, and any utility rebate received for the qualifying renewable energy technology system. These dollar amounts are to be deducted from the cost of the qualifying system before determining the credit. Lines 8, 20, and 33 –– The per unit cost of a solar or wind-powered energy system installed and placed in service in Hawaii in a multi-family residential property may be determined as follows:     Total square feet of your unit Total square feet of all units in the   x The actual cost multi-family residential property  of the system    If the above per unit cost calculation does not fairly represent the owners’ contribution to the cost of the system, provide an alternative calculation. Line 43 — Distributive share of solar energy tax credit. Each individual and corporate shareholder, partner, member, or beneficiary of an S corporation, partnership, estate, trust, or condominium apartment association receiving a Form N-342A must enter this amount on Form N-342, line 40. Both the Form N-342 and a copy of the Form N-342A must be attached to the individual or corporate income tax return on which the credit is claimed. Line 44 — Distributive share of wind-powered energy tax credit. Each individual and corporate shareholder, partner, member, or beneficiary of an S corporation, partnership, estate, trust, or condominium apartment association receiving a Form N-342A must enter this amount on Form N-342, line 41. Both the Form N-342 and a copy of the Form N-342A must be attached to the individual or corporate income tax return on which the credit is claimed. COMPOSITE FILING OF FORM N-342A For taxable years that begin on or after January 1, 2011, any S corporation, partnership, estate, trust, or condominium apartment association that has installed and placed in service 10 or more systems in a single taxable year may file composite Form(s) N-342A. A composite Form N-342A, which is designated with the word “COMPOSITE” printed in capital letters at the top of the form, is used to report the total amounts from Form N-342B, Composite Information Statement for Form N-342A. For more information and instructions on filing a composite Form N-342A, see Department of Taxation Announcement No. 2012-01 and the Instructions for Form N-342B. FORM N-342A
Extracted from PDF file 2018-hawaii-form-n-342a.pdf, last modified December 2009

More about the Hawaii Form N-342A Corporate Income Tax Tax Credit TY 2018

We last updated the Information Statement Concerning Renewable Energy in February 2019, so this is the latest version of Form N-342A, fully updated for tax year 2018. You can download or print current or past-year PDFs of Form N-342A directly from TaxFormFinder. You can print other Hawaii tax forms here.

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 A-6 Tax Clearance Application
Form N-342 Renewable Energy Technologies Income Tax Credit
Form P-64A Conveyance Tax Certificate
Sch. GE General Excise / Use Tax Schedule of Exemptions and Deductions
Form TA-2 Transient Accommodations Tax Annual Return

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-342A from the Department of Taxation in February 2019.

Show Sources >

Form N-342A 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-342A

We have a total of seven past-year versions of Form N-342A in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form N-342A

Form N-342, 2018, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

2017 Form N-342A

Form N-342, 2015, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

2016 Form N-342A

Form N-342, 2015, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

Forms 2015 2015 Form N-342A

Form N-342, 2015, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

Forms 2013 - CD Fillable 2014 Form N-342A

Form N-342, 2013, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

Forms 2012 - CD Fillable 2012 Form N-342A

Form N-342, 2012, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009

Forms 2011 - CD Fillable 2011 Form N-342A

Form N-342, 2011, Renewable Energy Technologies Income Tax Credit For Systems Installed and Placed in Service On or After July 1, 2009


TaxFormFinder Disclaimer:

While we do our best to keep our list of Hawaii Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/hawaii/form-n-342a