The Hawaiʻi Tax Credit for Research Activities (TCRA), also known as the Hawaiʻi R&D Tax Credit, is a significant financial incentive for businesses in Hawaiʻi that are involved in the development of new products or services. This tax credit allows eligible high-tech businesses, those that conduct more than 50% of their activities in qualified research, to claim a refundable credit against their corporate or personal income tax for expenses incurred in research activities. This benefit is particularly valuable for fostering innovation and technological advancement within the state.
This program is managed by Department of Business, Economic Development, and Tourism. Please visit the (DBEDT) tax credit page here for more information.
