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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 specifically for claiming the Tax Credit for Low-Income Housing in Hawaii.
Q: What is the Tax Credit for Low-Income Housing?
A: The Tax Credit for Low-Income Housing is a program that provides tax incentives to individuals and businesses who invest in low-income housing projects in Hawaii.
Q: Who is eligible for the Tax Credit for Low-Income Housing?
A: Individuals and businesses who invest in qualified low-income housing projects in Hawaii are eligible for the tax credit.
Q: How do I claim the Tax Credit for Low-Income Housing?
A: To claim the tax credit, you must fill out and submit Form N-586 along with your tax return.
Q: What is the deadline for filing Form N-586?
A: The deadline for filing Form N-586 is the same as your income tax return deadline, typically April 15th.
Q: Are there any limitations or restrictions on the tax credit?
A: Yes, there are limitations and restrictions on the tax credit, such as maximum credit amounts and requirements for maintaining the low-income housing.
Q: Can I carry forward any unused tax credits?
A: Yes, if you have any unused tax credits, you can carry them forward for up to 5 years.
Form Details:
- Released on January 1, 2021;
- 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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