Form N-324 - Ethanol Investment Tax Credit
ADVERTISEMENT
1STATE OF HAWAII—DEPARTMENT OF TAXATION
TAX
ETHANOL INVESTMENT TAX CREDIT
FORM
YEAR
N-324
20_ _
Or fiscal year beginning _________________, 20____, and ending __________________, 20___
(REV. 2003)
ATTACH TO FORM N-11, N-12, N-15, N-20, N-30, N-35, N-40, OR N-70NP, WHICHEVER IS APPLICABLE.
Name(s) as shown on Form N-11, N-12, N-15, N-20, N-30, N-35, N-40, or N-70NP
SSN or FEIN
Note: If you are only claiming the tax credit from a flow-through entity, start on line 8.
1. Enter the nameplate capacity of the ethanol facility ··························································
1
2. Enter the total qualified investment in the ethanol facility ··················································
2
3. Multiply the amount on line 2 by 30% (.30) and enter the result········································
3
4. Enter the cumulative tax credit amount allowed or claimed in prior years·························
4
5. Subtract line 4 from line 2 ··································································································
5
6. Enter the dollar amount listed below applicable to the nameplate capacity (line 1)
of the ethanol facility:
$150,000 if the capacity is at least 500,000, but not over 1 million gallons per year
$300,000 if the capacity is over 1 million, but not over 2 million gallons per year
$600,000 if the capacity is over 2 million, but not over 3 million gallons per year
$900,000 if the capacity is over 3 million, but not over 4 million gallons per year
$1,200,000 if the capacity is over 4 million, but not over 5 million gallons per year
$1,500,000 if the capacity is over 5 million, but not over 6 million gallons per year
$1,800,000 if the capacity is over 6 million, but not over 7 million gallons per year
$2,100,000 if the capacity is over 7 million, but not over 8 million gallons per year
$2,400,000 if the capacity is over 8 million, but not over 9 million gallons per year
$2,700,000 if the capacity is over 9 million, but not over 10 million gallons per year
$3,000,000 if the capacity is over 10 million, but not over 11 million gallons per year
$3,300,000 if the capacity is over 11 million, but not over 12 million gallons per year
$3,600,000 if the capacity is over 12 million, but not over 13 million gallons per year
$3,900,000 if the capacity is over 13 million, but not over 14 million gallons per year
$4,200,000 if the capacity is over 14 million, but not over 15 million gallons per year
$4,500,000 if the capacity is over 15 million gallons per year ···········································
6
7. Enter the lesser of lines 3, 5, or 6 ······················································································
7
If applicable, also enter this amount on Forms N-20 and N-35, Schedule K. Enter
beneficiaries share on Form N-40, Schedule K-1, line 10.
8. Flow through of the prorated ethanol investment tax credit from other entities, if any.
Name and Federal Employer I.D. number of the entity
____________________________________________________________________
Check box below.
£
S corporation shareholder—enter total from Form N-35, Schedule K-1, line 12p········
£
Partner—enter total from Form N-20, Schedule K-1, line 26 ·······································
£
Beneficiary—enter total from Form N-40, Schedule K-1, line 10 ·································
£
Patron—enter amount from federal Form 1099-PATR ················································
8
9. Maximum annual ethanol investment tax credit allowable. Add lines 7 and 8.
Enter this amount, rounded to the nearest dollar, on Schedule CR, line 20, or
enter the estate’s or trust’s share on Form N-40, Schedule F, line 7 ································
9
FORM N-324
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial