Form N-340 Motion Picture, Digital Media, and Film Form Production Income Tax Credit - Hawaii

What Is Form N-340?

This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form N-340?
A: Form N-340 is a tax form in Hawaii for claiming the Motion Picture, Digital Media, and Film ProductionIncome Tax Credit.

Q: What is the purpose of Form N-340?
A: The purpose of Form N-340 is to claim the tax credit for motion picture, digital media, and film production in Hawaii.

Q: Who is eligible to file Form N-340?
A: Eligible individuals or entities engaged in motion picture, digital media, or film production in Hawaii can file Form N-340.

Q: What is the tax credit for motion picture, digital media, and film production?
A: The tax credit for motion picture, digital media, and film production in Hawaii can range from 20% to 25% of qualified production costs.

Q: What are qualified production costs?
A: Qualified production costs include certain expenses incurred in Hawaii for motion picture, digital media, or film production.

Q: Are there any limitations for claiming the tax credit?
A: Yes, there are limitations on the total amount of tax credits that can be claimed and the number of productions that can qualify in a year.

Q: How can I file Form N-340?
A: Form N-340 can be filed with the Hawaii Department of Taxation along with any required supporting documents.

Q: Is there a deadline for filing Form N-340?
A: Yes, Form N-340 must be filed within one year from the end of the taxable year in which the motion picture, digital media, or film production activity occurred.