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Hawaii Important Agricultural Land Qualified Agricultural Tax credit
Extracted from PDF file 2023-hawaii-form-n-344.pdf, last modified September 2010Important Agricultural Land Qualified Agricultural Tax credit
Clear Form STATE OF HAWAII—DEPARTMENT OF TAXATION TAX YEAR FORM IMPORTANT AGRICULTURAL LAND QUALIFIED N-344 AGRICULTURAL COST TAX CREDIT (REV. 2020) Or fiscal year beginning _________________, 20___, and ending __________________, 20____ 20__ ATTACH TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP Name(s) as shown on tax return Part I SSN or FEIN CREDIT CERTIFICATE DEPARTMENT OF AGRICULTURE CERTIFICATE (Completed by the Department of Agriculture only) 1. Name of taxpayer 2. SSN/FEIN 3. Address (Number and street, including apartment number or rural route, city, state, and postal/zip code) 4. Description of designated important agricultural land (Include Tax Map Key, Number of acres, and Island) 5. Total qualified costs allowed 6. Credit Year: First Year Second Year Third Year $ $ 7. Amount of tax credit allowed for tax year 20__.......................................................... This is to certify that the amounts noted above have been verified in accordance with section 235-110.93, Hawaii Revised Statutes. Signature of Certifying Officer Type or Print Name and Title Part II Date of Certification COMPUTATION OF TAX CREDIT Note: If you are only claiming your distributive share of a tax credit distributed from a partnership, an S corporation, an estate, or a trust, skip line 1 and begin on line 2. 1 Total amount of certified tax credit allowed for the tax year from Part I, line 7.............................................................. 2 Flow through of important agricultural land qualified agricultural cost tax credit received from other entities, if any: Check the applicable box below. Enter the name and Federal Employer I.D. No. of Entity: a Partner — enter amount from the appropriate line on Schedule K-1 (Form N-20)............................................ b S corporation shareholder — enter amount from the appropriate line on Schedule K-1 (Form N-35).............. c Beneficiary — enter amount from the appropriate line on Schedule K-1 (Form N-40)...................................... d Patron — enter the amount from federal Form 1099-PATR............................................................................... 3 Total credit — Add lines 1 and 2 and enter the result here, rounded to the nearest dollar, and on the appropriate line for the credit on Schedule CR. For pass-through entities, enter this amount on the appropriate lines on your tax return....................................................................................................................................................................... Part III 1 2 3 RECAPTURE OF TAX CREDIT 1 Enter the taxable year for which the certified written statement was not submitted to the Department of Agriculture..................................................................................................................................................................... 2 Enter the amount of tax credit claimed for the taxable year in which the certified written statement was not submitted to the Department of Agriculture. Add this amount, rounded to the nearest dollar, to your tax liability for the tax year in which the recapture occurred......................................................................................... N344_I 2020A 01 VID01 ID NO 01 1 2 FORM N-344 FORM N-344 (REV. 2020) Part IV 1. 2. FLOW-THROUGH ENTITIES ALLOCATING THE CREDIT TO PARTNERS, SHAREHOLDERS, OR BENEFICIARIES Tax credit allocated to partners, shareholders, or beneficiaries. Enter the amount from Part II, line 3....................... $ Allocate the tax credit to partners, shareholders, or beneficiaries as follows (if more space is needed, attach additional sheet(s)): (a) No. (b) Name and Address of Partner, Shareholder, or Beneficiary 1 ------------------------------------------------------------------------------------------------------------ 2 ------------------------------------------------------------------------------------------------------------ 3 ------------------------------------------------------------------------------------------------------------ 4 ------------------------------------------------------------------------------------------------------------ 5 ------------------------------------------------------------------------------------------------------------ 6 ------------------------------------------------------------------------------------------------------------ 7 ------------------------------------------------------------------------------------------------------------ 8 ------------------------------------------------------------------------------------------------------------ 9 ------------------------------------------------------------------------------------------------------------ 10 ------------------------------------------------------------------------------------------------------------ 11 ------------------------------------------------------------------------------------------------------------ 12 ------------------------------------------------------------------------------------------------------------ 13 ------------------------------------------------------------------------------------------------------------ 14 ------------------------------------------------------------------------------------------------------------ 15 ------------------------------------------------------------------------------------------------------------ 16 ------------------------------------------------------------------------------------------------------------ 17 ------------------------------------------------------------------------------------------------------------ 18 ------------------------------------------------------------------------------------------------------------ 19 ------------------------------------------------------------------------------------------------------------ 20 ------------------------------------------------------------------------------------------------------------ 21 ------------------------------------------------------------------------------------------------------------ 22 ------------------------------------------------------------------------------------------------------------ 3. 4. PAGE 2 (c) Identifying No. of Partner, Shareholder, or Beneficiary Total from additional sheet(s).............................................................................................................................. Total amounts allocated (Must equal Part IV, line 1 above.)............................................................................... (d) Amount of Tax Credit Allocated 3 4 FORM N-344
Form N-344, Rev 2020, Important Agricultural Land Qualified Agricultural Cost Tax Credit
More about the Hawaii Form N-344 Corporate Income Tax Tax Credit TY 2023
We last updated the Important Agricultural Land Qualified Agricultural Tax credit in February 2024, so this is the latest version of Form N-344, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form N-344 directly from TaxFormFinder. You can print other Hawaii tax forms here.
Other Hawaii Corporate Income Tax Forms:
TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form N-342 | Renewable Energy Technologies Income Tax Credit |
| Form N-40 Sch. K1 | Beneficiary's Share of Income, Deductions, Credits, etc |
| Form A-6 | Tax Clearance Application |
| Form F-1 | Franchise Tax Return |
| Form N-301 | Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return |
View all 165 Hawaii Income Tax Forms
Form Sources:
Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form N-344 from the Department of Taxation in February 2024.
Form N-344 is a Hawaii Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Hawaii Form N-344
We have a total of ten past-year versions of Form N-344 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form N-344
Form N-344, Rev 2020, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2022 Form N-344
Form N-344, Rev 2020, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2021 Form N-344
Form N-344, Rev 2020, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2020 Form N-344
Form N-344, Rev 2020, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2019 Form N-344
Form N-344, Rev 2019, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2018 Form N-344
Form N-344, Rev 2018, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2017 Form N-344
Form N-344, Rev 2017, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2016 Form N-344
Form N-344, Rev 2016, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2015 Form N-344
Form N-344, Rev 2015, Important Agricultural Land Qualified Agricultural Cost Tax Credit
2014 Form N-344
Form N-344, Rev 2014, Important Agricultural Land Qualified Agricultural Cost Tax Credit
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