 |
|
| |
| |
Hawaii established a tax credit to encourage investment in the state’s technologically advanced companies, such as those conducting research of non-fossil fuel energy.
|
Hawaii
High Technology Business Investment Tax Credit
Hawaii offers a 100-percent tax credit on an equity investment in a qualified high technology business. The program defines a qualified high technology business as a business that conducts more than 50 percent of its activities in qualified research, which includes non-fossil fuel energy-related technology. Eligible renewable resources include landfill gas, wind, solar, hydropower, geothermal, ocean thermal, wave energy, hydrogen, fuel cells, waste to energy, biomass including municipal solid waste, and other biofuels. Hawaii established the tax credit to encourage investment in the state’s technologically advanced companies.
The maximum credit limit is $2 million over five years, and the credit is allocated as follows:
- 35 percent in the year the investment was made (a maximum credit of $700,000)
- 25 percent in the first year following the investment year (a maximum credit of $500,000)
- 20 percent in the second year following the investment (a maximum credit of $400,000)
- 10 percent in the third year following the investment (a maximum credit of $200,000)
- 10 percent in the fourth year following the investment (a maximum credit of $200,000)
The expiration dates of the tax credit are the taxable years beginning after December 31, 2010.
For More Information
Contact:
Information Specialist
Hawaii Department of Taxation
Taxpayer Services Branch
P.O. Box 259
Honolulu, HI 96809
808-587-4242
Web site: www.state.hi.us/tax/a2_b2_6hi_tech.htm  |
|
