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Hawaii Recapture of the Tax Credit for Flood Victims
Extracted from PDF file 2023-hawaii-form-n-338.pdf, last modified August 2003Recapture of the Tax Credit for Flood Victims
Clear Form STATE OF HAWAII—DEPARTMENT OF TAXATION RECAPTURE OF TAX CREDIT FORM FOR FLOOD VICTIMS 20__ N-338 (Rev. 2018) Or fiscal year beginning ___________________ , 20_____, and ending ____________________, 20 ATTACH THIS SCHEDULE TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP Name SSN or FEIN COMPUTATION OF RECAPTURE OF TAX CREDIT FOR FLOOD VICTIMS 1. Amount of expenses utilized to calculate the credit subsequently recovered, e.g., reimbursed by insurance or other disaster relief payments from government agencies or non-profit organizations.... 2. Tax credit percentage............................................................................................................................ 3. Credit Recapture — Multiply line 1 by line 2 and enter the result (rounded to the nearest dollar for individual taxpayers) here. Add this amount to your tax liability for the tax year in which the recapture occurred................................................................................................................................ 1 2 10% 3 GENERAL INSTRUCTIONS SPECIFIC INSTRUCTIONS If at any time after claiming the tax credit, the taxpayer no longer qualifies for the credit because the taxpayer subsequently is reimbursed by insurance or other disaster relief payments for expenses utilized to calculate the credit, the credits claimed shall be recaptured. The recapture shall be equal to 100% of the tax credits that were subsequently ineligible as a result of later recovery. The amount of the recaptured tax credit shall be added to the taxpayer’s tax liability for the taxable year in which the recapture occurs. Line 1 — Enter the amount of expenses utilized to calculate the credit subsequently recovered, e.g., reimbursed by insurance or other disaster relief payments from government agencies or nonprofit organization. Line 3 — This is your credit recapture. Add this amount to your tax liability for the tax year in which the recapture occurred. N338_I 2018A 01 VID01 ID NO 01 FORM N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
More about the Hawaii Form N-338 Corporate Income Tax Tax Credit TY 2023
We last updated the Recapture of the Tax Credit for Flood Victims in February 2024, so this is the latest version of Form N-338, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form N-338 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-338 from the Department of Taxation in February 2024.
Form N-338 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-338
We have a total of twelve past-year versions of Form N-338 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2022 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2021 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2020 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2019 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2018 Form N-338
Form N-338, Rev 2018, Recapture of Tax Credit for Flood Victims
2017 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
2016 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
2015 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
2014 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
2012 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
2011 Form N-338
Form N-310, Rev 2008, Multistate Tax Compact Short Form Return
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