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This version of the form is not currently in use and is provided for reference only. Download this version of
Form N-586
for the current year.
Form N-586 Tax Credit for Low-Income Housing - Hawaii
What Is Form N-586?
This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form N-586?
A: Form N-586 is a tax form related to the tax credit for low-income housing in Hawaii.
Q: What is the tax credit for low-income housing in Hawaii?
A: The tax credit for low-income housing in Hawaii is a credit that can be claimed by individuals or businesses that provide affordable housing for low-income residents.
Q: Who can claim the tax credit?
A: Individuals or businesses that provide affordable housing for low-income residents in Hawaii can claim the tax credit.
Q: What is the purpose of the tax credit for low-income housing?
A: The purpose of the tax credit is to incentivize the creation and maintenance of affordable housing for low-income residents in Hawaii.
Q: How do I fill out Form N-586?
A: To fill out Form N-586, you will need to provide information about the low-income housing project and the number of units, as well as details about the tenants and their income levels.
Q: Is there a deadline to file Form N-586?
A: Yes, there is a deadline to file Form N-586. The specific deadline can vary, so it is important to check with the Hawaii Department of Taxation for the current year's deadline.
Q: What are the benefits of claiming the tax credit?
A: Claiming the tax credit for low-income housing can provide financial benefits by reducing your tax liability and potentially increasing your refund.
Q: Are there any eligibility requirements for the tax credit?
A: Yes, there are eligibility requirements for the tax credit, including compliance with certain rules and regulations for providing affordable housing in Hawaii.
Q: Can I claim the tax credit for multiple low-income housing projects?
A: Yes, you can claim the tax credit for multiple low-income housing projects, as long as you meet the eligibility requirements for each project.
Form Details:
- Released on January 1, 2020;
- The latest edition provided by the Hawaii Department of Taxation;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form N-586 by clicking the link below or browse more documents and templates provided by the Hawaii Department of Taxation.
Download Form N-586 Tax Credit for Low-Income Housing - Hawaii
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