[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-305076-105":53,"doc-detail-305076-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","instructions-for-form-n-342-renewable-energy-technologies-income-tax-credit","INSTRUCTIONS FOR FORM N-342 - RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT","","INSTRUCTIONS FOR FORM N-342 explains how to calculate and claim Hawaii’s Renewable Energy Technologies Income Tax Credit (RETITC) under HRS section 235-12.5. The guide covers eligibility for individuals and corporate taxpayers under chapter 235 and franchise-tax taxpayers under chapter 241, requirements for attaching Form N-342, Schedule CR, and (when applicable) Form N-342A and Schedule K-1. It also details limits on claiming, including exclusions for double-credit use, certain lease arrangements, and systems meeting specific regulatory conditions, plus rules for composite filings and carryover credits.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/instructions-for-form-n-342-renewable-energy-technologies-income-tax-credit/305076/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/instructions-for-form-n-342-renewable-energy-technologies-income-tax-credit/305076.png","ImageObject",442,249,{"name":88,"@type":89},"Mia  ","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-27","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":76},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"Who is eligible to claim the RETITC using Form N-342?","Question",{"text":108,"@type":109},"You may claim the credit if you are the economic owner of an eligible renewable energy technology system installed and placed in service in Hawaii during the taxable year, and you are subject to Hawaii income tax (chapter 235, HRS) or Hawaii franchise tax (chapter 241, HRS).","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"Can multiple owners claim a single system’s credit?",{"text":113,"@type":109},"Yes. Multiple owners of one system are entitled to a single tax credit and each owner claims a portion based on how much they paid, subject to the credit cap.",{"name":115,"@type":106,"acceptedAnswer":116},"When may the RETITC not be claimed?",{"text":117,"@type":109},"You may not claim the credit if, for example, you use the entire system cost to claim another credit, you are the lessee under a power purchase agreement, or the system meets certain statutory or capacity-based conditions described in the instructions.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},305076,1790462194,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":76,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":79,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":73},687207024478,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","Clear Form  \nINSTRUCTIONS STATE OF HAWAII—DEPARTMENT OF TAXATION  \nFORM N-342 (REV. 2025)  \nINSTRUCTIONS FOR FORM N-342 RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT  \n(FOR SYSTEMS INSTALLED AND PLACED IN SERVICE ON ORAFTER JULY 1, 2009)  \n(NOTE: References to “married” and “spouse” are also references to “in a civil union”  \nand “civil union partner,” respectively.)  \nCOMPOSITE FILING OF FORM N-342  \nAny individual or corporate taxpayer who is eligible to claim the renewable energy technologies income tax credit (RETITC) for 10 or more systems or distributive shares of systems installed and placed in service ina single tax year may file a composite Form N-342 . A composite Form N-342, which is designated with the word “COMPOSITE” printed in capital letters at the top of the form, is used to report the total amounts from Form N-342C, Composite Schedule for Form N-342 . For more information and instructions on filing a composite Form N-342, see Department of Taxation Announcement No. 2012-01 and the Instructions for Form N-342C. Note: Failing to properly file and/or comply with the terms and conditions for composite filing (e.g., filing a composite Form N-342 to claim the renewable energy technologies income tax credit for less than 10 systems installed and placed in service in a single tax year) may result in the disallowance of all or part of the credits and the revocation of the election to composite file.  \nGENERAL INSTRUCTIONS  \nPURPOSE OF FORM  \nUse Form N-342 to figure and claim the RETITC under section 235- 12.5, Hawaii Revised Statutes (HRS) . Use one Form N-342 for each system. If you have carryover credit(s), see the “Carryover Credit” section below.  \nWHO MAY CLAIM THIS CREDIT  \nIf you are the economic owner of an eligible renewable energy technology system that was installed and placed in service in Hawaii during the taxable year, you may claim this credit if:  \n(1) You are an individual or corporate taxpayer subject to Hawaii income tax under chapter 235, HRS; or  \n(2) You are a taxpayer subject to Hawaii franchise tax under chapter 241, HRS.  \nMULTIPLE OWNERS OF A SYSTEM  \nMultiple owners of a single system are entitled to a single tax credit. Each owner may claim a portion of the credit based on how much it paid towards the cost of the system subject to the tax credit cap. For example, three individuals install and place in service a solar water heater on a single-family residential property in Hawaii. They split the costs evenly. The credit is the lesser of 35% of the actual cost or $2,250 . Each individual may claim one-third of the credit. To claim the credit, each owner must complete Form N-342 and report its share of the total costs.  \nFLOW-THROUGH ENTITIES  \nIf you are a partnership, S corporation, estate, trust, or condominium apartment association who is the economic owner of an eligible renewable energy technology system that was installed and placed in service in Hawaii during the taxable year, figure the amount of the credit at the entity level on Form N-342 and attach it to your return. Use a separate Form N-342 for each eligible renewable energy technology system. Prepare a separate Form N-342A, Information Statement Concerning the Renewable Energy Technologies Income Tax Credit for Systems Placed in Service on or After July 1, 2009, to report the distributive share of the credit for each partner, shareholder, member, or beneficiary for each eligible system. If you are a partnership or S corporation, attach Form N-342A to each partner’s or shareholder’s Schedule K-1 . Attach a copy of Form N-342A given to each partner, shareholder, member, or beneficiary to your return.  \nWHEN THE CREDIT MAY NOT BE CLAIMED  \nThis credit may not be claimed it any of the following apply:  \n(1) You are using the entire cost of the system to claim another credit.  \n(2) You are the lessee in a Power Purchase Agreement (PPA) .  \n(3) Your solar water heater system was required to be installed on new single-family residen","cbCaisOlzcBLmxAI","https://ap.wps.com/l/cbCaisOlzcBLmxAI","pdf",241129,"English","# Purpose of Form\n## Who may claim this credit\n## Multiple owners of a system\n## Flow-through entities\n## When the credit may not be claimed\n## Credit requirements\n## Carryover credit\n## Deadline for claiming the credit\n## How to treat the tax credit","[{\"question\":\"Who is eligible to claim the RETITC using Form N-342?\",\"answer\":\"You may claim the credit if you are the economic owner of an eligible renewable energy technology system installed and placed in service in Hawaii during the taxable year, and you are subject to Hawaii income tax (chapter 235, HRS) or Hawaii franchise tax (chapter 241, HRS).\"},{\"question\":\"Can multiple owners claim a single system’s credit?\",\"answer\":\"Yes. Multiple owners of one system are entitled to a single tax credit and each owner claims a portion based on how much they paid, subject to the credit cap.\"},{\"question\":\"When may the RETITC not be claimed?\",\"answer\":\"You may not claim the credit if, for example, you use the entire system cost to claim another credit, you are the lessee under a power purchase agreement, or the system meets certain statutory or capacity-based conditions described in the instructions.\"}]","INSTRUCTIONS FOR FORM N-342 - RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT | PDF",1789821726]