Clear Form
                      STATE OF HAWAII—DEPARTMENT OF TAXATION

                      RECAPTURE OF TAX CREDIT
  FORM 
                      FOR FLOOD VICTIMS
  N-338                                                                                                                                                  20__
  (Rev. 2018)
                      Or fiscal year beginning  __________________ , 20_____, and ending  ___________________, 20   

  ATTACH THIS SCHEDULE TO FORM N-11, N-15, N-20, N-30, N-35, N-40, OR N-70NP
Name                                                                                                SSN or FEIN

COMPUTATION OF RECAPTURE OF TAX CREDIT FOR FLOOD VICTIMS
1.  Amount of expenses utilized to calculate the credit subsequently recovered, e.g., reimbursed by  
  insurance or other disaster relief payments from government agencies or non-profit organizations ...                                                 1
2.  Tax credit percentage ...........................................................................................................................  2 10%
3.  Credit Recapture — Multiply line 1 by line 2 and enter the result (rounded to the nearest dollar for 
  individual taxpayers) here.  Add this amount to your tax liability for the tax year in which the  
  recapture occurred ...............................................................................................................................   3

GENERAL INSTRUCTIONS                                                       SPECIFIC INSTRUCTIONS
  If at any time after claiming the tax credit, the taxpayer no            Line 1 — Enter the amount of expenses utilized to calculate 
longer qualifies for the credit because the taxpayer subsequently          the credit subsequently recovered, e.g., reimbursed by insurance 
is  reimbursed  by  insurance  or  other  disaster  relief  payments  for  or other disaster relief payments from government agencies or non-
expenses utilized to calculate the credit, the credits claimed shall be    profit organization.
recaptured.  The recapture shall be equal to 100% of the tax credits       Line 3 — This is your credit recapture.  Add this amount to your 
that were subsequently ineligible as a result of later recovery.  The      tax liability for the tax year in which the recapture occurred.
amount of the recaptured tax credit shall be added to the taxpayer’s 
tax liability for the taxable year in which the recapture occurs.

                                                                                                                                                         FORM N-338

N338_I 2018A 01 VID01 ID NO 01