Form N-316 - Motion Picture And Film Production Income Tax Credit - 2007
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STATE OF HAWAII—DEPARTMENT OF TAXATION
MOTION PICTURE AND FILM PRODUCTION
FORM
INCOME TAX CREDIT
2007
N-316
(Note: If you are claiming the Ethanol Facility Tax Credit, no other credit can be
)
claimed for the same taxable year.
(Rev. 2007)
Or fiscal year beginning _____________________, 2007, and ending _________________________, 20____
ATTACH THIS SCHEDULE TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP
NOTE: This credit can be claimed only for production and transient accommodations costs incurred before July 1, 2006.
Name
SSN or FEIN
PART I –– PRODUCTION COSTS PART OF THE TAX CREDIT
1.
Flow through of production costs qualifying for a 4% tax credit received from
other entities.
Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity
_______________________________________________________________
£
a S corporation shareholder — enter amount from Schedule K-1 (Form N-35), line 24
£
b Partner — enter amount from Schedule K-1 (Form N-20), line 31
£
c Beneficiary — enter amount from Schedule K-1 (Form N-40), line 9
£
d Patron — enter amount from federal Form 1099-PATR.............................
1
Form N-20, N-35, and N-40 filers, stop here and see the Instructions before
proceeding to line 2.
2.
Tax credit percentage.........................................................................................
2
4%
3.
Multiply line 1 by line 2 and enter the result here ...............................................................................................
3
4.
Flow through of production costs qualifying for a less than 4% tax credit
received from other entities.
Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity
_______________________________________________________________
£
a S corporation shareholder — enter amount from Schedule K-1 (Form N-35), line 24
£
b Partner — enter amount from Schedule K-1 (Form N-20), line 31
£
c Beneficiary — enter amount from Schedule K-1 (Form N-40), line 9
£
d Patron — enter amount from federal Form 1099-PATR.............................
4
Form N-20, N-35, and N-40 filers, stop here and see the instructions before
proceeding to line 5.
5.
Tax credit percentage.........................................................................................
5
6.
Multiply line 4 by line 5 and enter the result here ...............................................................................................
6
PART II –– TRANSIENT ACCOMMODATIONS COSTS PART OF THE TAX CREDIT
7.
Flow through of transient accommodations costs qualifying for a 7.25% tax
credit received from other entities.
Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity
_______________________________________________________________
£
a S corporation shareholder — enter amount from Schedule K-1 (Form N-35), line 24
£
b Partner — enter amount from Schedule K-1 (Form N-20), line 31
£
c Beneficiary — enter amount from Schedule K-1 (Form N-40), line 9
£
d Patron — enter amount from federal Form 1099-PATR.............................
7
Form N-20, N-35, and N-40 filers, stop here and see the instructions before
proceeding to line 8.
8.
Tax credit percentage.........................................................................................
8
7.25%
9.
Multiply line 7 by line 8 and enter the result here ..............................................................................................
9
10. Flow through of transient accommodations costs qualifying for a less than
7.25% tax credit received from other entities.
Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity
_______________________________________________________________
£
a S corporation shareholder — enter amount from Schedule K-1 (Form N-35), line 24
£
b Partner — enter amount from Schedule K-1 (Form N-20), line 31
£
c Beneficiary — enter amount from Schedule K-1 (Form N-40), line 9
£
d Patron — enter amount from federal Form 1099-PATR.............................
10
Form N-20, N-35, and N-40 filers, stop here and see the instructions before
proceeding to line 11.
(Continued on back)
FORM N-316
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