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 Hawaii Form N 288c 2020

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Instructions and help about Hawaii Form N 288c

welcome back class to the fourth of four videos regarding Hawaii income tax preparation using this form in1 in this video let's take a look at calculating Hawaii tax credits so let's jump down to page three where the tax credits are reported and you can see just like Federal Hawaii credits are divided up into two groups one group is called refundable or any excess credits refundable credits can be refunded to the taxpayer versus the so-called nonrefundable credits that can only be used to offset taxes for the current year and possibly any unused nonrefundable credits can be carried over to Future years the most common refundable credits mentioned here are calculated on schedule X so let's take a look at schedule X that calculates these three credits and let's zoom in where the first of the three is called a food excise tax credit here in Hawaii the cost of living is quite high and to help taxpayers in the moderate or lowincome group they want to partiall

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