Hawaii Administrative Rules
Title 18 - DEPARTMENT OF TAXATION
Chapter 235 - INCOME TAX LAW
Subchapter 1 - GENERAL PROVISIONS
Section 18-235-12.2 - Energy conservation devices for hot water heaters; income tax credit
Universal Citation: HI Admin Rules 18-235-12.2
Current through August, 2024
(a) Limitation of credit. Section 235-12.2, HRS, provides a tax credit against the tax imposed by chapter 235, HRS, to resident individuals and corporations who have installed energy conservation devices for hot water heaters.
(b) Claim for credit.
(1) Credit shall be claimed for the year the
insulation material was purchased and installed in this State. Hence, where the
insulation material is purchased in one year and installed in another, the
credit shall be allowed in the year of installation. (After 12/31/77 but before
12/31/84.)
(2) The claim for tax
credit, not to exceed $30.00 shall be claimed against the income tax liability
and any remaining credit shall be carried forward and used in subsequent
taxable years until exhausted. The claim shall contain the necessary
information provided for on the form and shall be attached to the income tax
return in the year first installed and subsequent taxable years for which a tax
credit is claimed. The forms provided are:
| N-159 | Individual taxpayer; |
| N-159-A | Taxpayers who are members of a partnership, estate or trust, or small business corporation; and |
| N-307 | Corporation |
(3)
Taxpayer shall maintain proper supporting documents to substantiate the cost of
the energy conservation device for the period the claim remains valid and upon
request shall submit such documents to the department of taxation.
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