1. Tax Credit for Research Activities (TCRA)
  2. Hawaii Revised Statutes (HRS) §235−110.91
  3. Hawaii Department of Taxation (DOTAX)
  4. Department of Business, Economic Development, and Tourism (DBEDT)
  5. Qualified High Technology Business (QHTB)
  6. QHTB Annual Survey
  7. QHTB Full-Time or Part-Time Employees Limit (500)
  8. Activities in Qualified Research (> 50%)
  9. Domiciled and Registered to do Business
  10. Independently Owned and Operated
  11. Qualified Research Expenses (QREs)
  12. Research Activity Conducted
  13. IRC §41 (Federal Research Credit Reference)
  14. IRC §41 as Enacted on December 31, 2011
  15. Wages for Qualified Services (Hawaii)
  16. Cost of Supplies (Hawaii)
  17. Rental or Lease Costs of Computers (Hawaii)
  18. Contract Research Expenses Percentage (65%)
  19. Applicable Percentage of Contract Research Expenses
  20. Basic Research Payments to Qualified Organizations
  21. Research Expenses Incurred Outside of the State (Exclusion)
  22. Fully Refundable Credit
  23. Refund of Excess Credit over Tax Liability
  24. Annual Aggregate Cap ($5,000,000 or §10,000,000)
  25. First-Come, First-Served Basis
  26. Certification of Credits
  27. DBEDT Certification Application
  28. Form N-346A (Application for Certification)
  29. Application Date/Time (N-346A Receipt)
  30. DBEDT Questionnaire Part B
  31. Application Deadline (March 31st)
  32. Form N-346 (Tax Credit for Research Activities)
  33. Schedule CR (Credit Schedule)
  34. Taxpayer’s Net Income Tax Liability
  35. Corporate Income Tax (Form N-30)
  36. Individual Income Tax (Form N-11/N-15)
  37. S Corporation (Form N-20)
  38. Partnership (Flow-Through Entity)
  39. Pro-Rata Share of Credit
  40. Schedule K-1 (Pass-Through Allocation)
  41. Technological in Nature (4-Part Test)
  42. Elimination of Uncertainty (4-Part Test)
  43. Process of Experimentation (4-Part Test)
  44. Permitted Purpose (4-Part Test)
  45. Sunset Provision (December 31, 2029)
  46. Amended Claims Deadline (12 Months)
  47. Taxable Year
  48. Base Amount Inapplicability (Previous Law)
  49. High Technology Business Investment Tax Credit (§235−110.9)