Claim for credit; costs incurred in more than one calendar year

# (a)

The credit under section 235-17, HRS, is based on the qualified production costs incurred during each calendar year. A taxpayer with qualified production costs for one production that incurs qualified production costs in more than one calendar year must submit a production report as described in section 18-235-17-03(b) to the Hawaii film office for each calendar year in which qualified production costs are incurred.

# (b)

If a qualified production incurs qualified production costs in two separate calendar years, then the credit under section 235-17, HRS, for each taxable year will be based upon the qualified production costs incurred in each respective calendar year.

Last amended: [Eff 11/17/2019] (Auth: HRS §231-3(9)) (Imp: HRS §235-17) HRS §235-17

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