Get Instructions For Form N-346a

Filling out the Instructions For Form N-346a is essential for claiming the tax credit for research activities every fiscal year. This guide will support you in completing the form efficiently and correctly, ensuring all necessary information is provided to the Department of Taxation.

Follow the steps to complete the form online successfully.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. At the top of Page 1, provide your qualified high technology business (QHTB) name, identifying number, mailing address, and contact information.
3. For Part I, lines 1a through 1f, enter the amounts of eligible research expenses as reported on federal Form 6765, specifically for the 2014 tax year, including those incurred in Hawaii. Note that expenses outside Hawaii do not qualify.
4. On line 1g, calculate and enter the Total Eligible Research Expenses by adding lines 1a through 1f.
5. On line 2, input the credit amount to be reported on line 4 of Form N-346.
6. If applicable, on line 4, include a list of the partners', shareholders', beneficiaries', or patrons' names and their respective SSN/FEIN along with their allocated shares of the credit.
7. At the top of Page 2, repeat the taxpayer's name and identifying number who is claiming the credit.
8. For Part II, lines 1 and 2, enter the eligible research expenses and amount of credit to be reported, ensuring accuracy with any received Schedule K-1 or federal Form 1099-PATR.
9. After you have completed the form, save your changes. You can then download, print, or share the form as needed.

Complete your documents online to ensure timely filing and compliance.