Hawaii's Capital Goods Excise Tax Credit reimburses businesses for the general excise tax or use tax they pay on the purchase of a solar electric system. To be eligible for the credit, the property shall be depreciable property, used in the taxpayer's trade or business in Hawaii, and was subject to Hawaii's general excise or use tax at the rate of 4 percent upon acquisition. The credit is equal to 4 percent of the cost of the solar electric system and is refundable. The credit must be claimed within 12 months of the close of the taxable year. Tax Form N-312 and instructions are accessible on the state's Department of Taxation's Web site (http://www.state.hi.us/tax/taxforms.html)
|Incentive Type:||Corporate Tax Credit|
|Administrator:||Hawaii Department of Taxation|
|Eligible Renewable/Other Technologies:||
|Carryover Provisions:||Credit must be claimed within 12 months of the close of the taxable year.|
|Organization:||Hawaii Department of Taxation|
P.O. Box 259
Honolulu HI 96809
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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