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Hawaii Free Printable Form N-756, Rev. 2018, Enterprise Zone Tax Credit for 2019 Hawaii Enterprise Zone Tax Credit

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Enterprise Zone Tax Credit
Form N-756, Rev. 2018, Enterprise Zone Tax Credit

Clear Form FORM N-756 (REV. 2018) STATE OF HAWAII — DEPARTMENT OF TAXATION 20__ ENTERPRISE ZONE TAX CREDIT SEE SEPARATE INSTRUCTIONS BEFORE COMPLETING THIS FORM. Or fiscal year beginning _______________ , 20 _____ , and ending _______________ , 20 _____ ATTACH THIS SCHEDULE TO FORM N-11, N-15, N-20, N-30, N-35, N-40, or N-70NP Name SSN OR FEIN Complete Parts I, II and IV if your 7 or 10-year cycle began at the start of your taxable year. Complete Parts I, III and IV if your 7 or 10-year cycle began during your taxable year rather than at the start of your taxable year. In order to claim the enterprise zone tax credit, ALL of the following MUST be attached to your tax return: 1. Form N-756, Enterprise Zone Tax Credit 2. Form N-756A, Information Statement, if you are a partner of a partnership, a shareholder of an S corporation, or a beneficiary of an estate or trust 3. A copy of the certification issued by the Department of Business, Economic Development & Tourism Part I - Computation of Tax and Unemployment Insurance Premiums Attributable to Zone Activity 1. Total tax liability................................................................................................................................................................. 2. a. Total gross income from trade or business within the zone....................................... 2a b. Total gross income required to be reported to Hawaii................................................ 2b c. Percentage of business within the zone. Divide line 2a by line 2b............................................................................. 3. Multiply line 1 by line 2c.................................................................................................................................................... 4. Total unemployment insurance premiums paid for employees employed within Hawaii................................................... 5. a. Total payroll for employees employed within the zone.................................................. 5a b. Total payroll for employees employed within Hawaii..................................................... 5b c. Percentage of unemployment insurance premiums paid on the payroll of employees employed within the zone. Divide line 5a by line 5b..................................................................................................... 6. Multiply line 4 by line 5c.................................................................................................................................................... 7. Add lines 3 and 6.............................................................................................................................................................. 1 2c 3 4 5c 6 7 Part II - Computation of Tax Credit When the 7 or 10-Year Cycle Began at the Start of the Taxable Year 8. Enter the cycle year ____________________ 9. Enter the percentage from the table below that applies to your cycle year....................................................................... 9 Cycle Year Applicable Percentage Cycle Year Applicable Percentage 1.................................... 80% 5.................................... 40% 2.................................... 70% 6.................................... 30% 3.................................... 60% 7.................................... 20% 4.................................... 50% *8 - 10............................... 20% *Allowed only for manufacturers of tangible personal property or producers or processors of agricultural products. 10. Maximum enterprise zone tax credit allowable for the year. Multiply line 7 by line 9. Enter this amount on Part IV, line 19................................................................................................................................ 10 Part III - Computation of Tax Credit When the 7 or 10-Year Cycle Began During the Taxable Year 11. Enter the 2 cycle years contained in the taxable year. (Note: If the taxable year contains only your first or last cycle year, you only need to complete lines 11a, 12a-12e, and 14.) a. Cycle year _________________    b. Cycle year _________________ 12. Cycle year referred to on line 11a a. Enter the number of months during the taxable year attributable to the cycle year referred to on line 11a................................................................................................ 12a b. Divide line 12a by 12.................................................................................................. 12b c. Enter the percentage applicable to the cycle year referred to on line 11a. (See line 9 for percentage table)........................................................................................ 12c d. Multiply line 12b by line 12c....................................................................................... 12d e. Multiply line 7 by line 12d............................................................................................................................................ 12e 13. Cycle year referred to on line 11b a. Enter the number of months during the taxable year attributable to the cycle year referred to on line 11b................................................................................................ 13a b. Divide line 13a by 12.................................................................................................. 13b c. Enter the percentage applicable to the cycle year referred to on line 11b. (See line 9 for percentage table)........................................................................................ 13c d. Multiply line 13b by line 13c....................................................................................... 13d e. Multiply line 7 by line 13d............................................................................................................................................ 13e 14. Maximum enterprise zone tax credit allowable for the year. Add lines 12e and 13e. Enter this amount on Part IV, line 18................................................................................................................................ 14 ID NO 01 N756_I 2018A 01 VID01 FORM N-756 FORM N-756 (REV. 2018) PAGE 2 Part IV - Computation of Credit Limitation 15. Enter your total tax liability (from Part I, line 1) here.......................................................................................................... 16. If you are claiming other credits, complete the credit worksheet in the instructions and enter the total here.................... 17. Subtract line 16 from line 15. Enter the difference here. If line 16 is larger than line 15, enter -0- here and on line 19....... 18. Enter the amount from Part II, line 10 or Part III, 14.......................................................................................................... 19. Enter the smaller of line 17 or line 18. This is the amount of your enterprise zone tax credit. Enter this amount on Schedule CR, line 3 (For tax returns for which Schedule CR is required) or Form N-40, Schedule E, line 3.......................................................................................................................................... 15 16 17 18 19 FORM N-756
Extracted from PDF file 2018-hawaii-form-n-756.pdf, last modified December 2003

More about the Hawaii Form N-756 Corporate Income Tax Tax Credit TY 2018

We last updated the Enterprise Zone Tax Credit in February 2019, so this is the latest version of Form N-756, fully updated for tax year 2018. You can download or print current or past-year PDFs of Form N-756 directly from TaxFormFinder. You can print other Hawaii tax forms here.

Related Hawaii Corporate Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Hawaii Form N-756.

Form Code Form Name
Form N-756A Information Statement Concerning the Enterprise Zone Tax Credit

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-756 from the Department of Taxation in February 2019.

Show Sources >

Form N-756 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-756

We have a total of seven past-year versions of Form N-756 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form N-756

Form N-756, Rev. 2018, Enterprise Zone Tax Credit

2017 Form N-756

Form N-756, Rev. 2010, Enterprise Zone Tax Credit

2016 Form N-756

Form N-756, Rev. 2010, Enterprise Zone Tax Credit

Forms 2010 2015 Form N-756

Form N-756, Rev. 2010, Enterprise Zone Tax Credit

Forms 2010 2014 Form N-756

Form N-756, Rev. 2010, Enterprise Zone Tax Credit

PDF Form Pack generated by formuPack 2012 Form N-756

PDF Form Pack

Forms 2010 2011 Form N-756

Form N-756, Rev. 2010, Enterprise Zone Tax Credit


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