Instructions for Form N-352 Renewable Fuels Production Tax Credit - Hawaii

Form N-352 Renewable Fuels Production Tax Credit - Hawaii

This document contains official instructions for Form N-352 , Renewable Fuels Production Tax Credit - a form released and collected by the Hawaii Department of Taxation. An up-to-date fillable Form N-352 is available for download through this link.

FAQ

Q: What is Form N-352?
A: Form N-352 is a tax form related to the Renewable Fuels Production Tax Credit in Hawaii.

Q: What is the Renewable Fuels Production Tax Credit?
A: The Renewable Fuels Production Tax Credit is a tax credit offered in Hawaii for the production of renewable fuels.

Q: Who is eligible for the tax credit?
A: Individuals, corporations, and partnerships engaged in renewable fuels production in Hawaii may be eligible for the tax credit.

Q: What should be included in the Form N-352?
A: Form N-352 should include information about the renewable fuels production activities and the total amount of tax credit being claimed.

Q: Is there a deadline for filing Form N-352?
A: Yes, Form N-352 must be filed on or before the due date of the Hawaii income tax return for the taxable year.

Q: Are there any supporting documents required with Form N-352?
A: Yes, supporting documents such as production records and receipts may be required to substantiate the claim for the tax credit.

Q: How much is the Renewable Fuels Production Tax Credit?
A: The tax credit amount varies depending on the type of renewable fuel produced and the production capacity.

Q: Can the tax credit be carried forward or refunded?
A: Yes, unused tax credits can be carried forward for up to five years or refunded if certain conditions are met.