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Hawaii
Corporate Name Endings
- The name shall contain the word "Corporation," "Incorporated,"
"Limited," or an abbreviation thereof. The name shall not be the same as,
or substantially identical to, the name of any other corporation, partnership,
or foreign corporation or partnership existing or authorized to transact business
within the state.
Corporation Requirements
- Director Information
- Minimum Number - Not less than three, unless there are only one or
two shareholders of record; then the number of directors may be less than
three but not less than the number of shareholders.
- Residence Requirements - At least one director shall be a state
resident.
- Age Requirements - None.
- Directors are required to be listed in the articles of incorporation.
- Officer Information
- Officers are required to be listed in the articles of incorporation.
- Stock Information
- An increase
in shares or par value does affect initial filing fees.
Taxes and Fees
- Annual Statements
Domestic and foreign corporations must file an annual report with the
Department of Commerce and Consumer Affairs. The annual report fee is $25.00
for Corporations and Limited Liability Companies and $5.00 for Nonprofit corporations.
Annual reports must be filed on the basis of the anniversary date of the initial
registration of your business within the time periods prescribed below.
All domestic and foreign entities whose date of incorporation or registration
in the State of Hawaii falls between:
- January 1 and March 31, an annual report or statement shall be filed
on or before March 31 of each year and shall reflect the state of the entitys a
affairs as of January 1 of the year when filed;
- April 1 and June 30, an annual report or statement shall be filed on or
before June 30 of each year and shall reflect the state of the entitys affairs
as of April 1 of the year when filed;
- July 1 and September 30, an annual report or statement shall be filed on
or before September 30 of each year and shall reflect the state of the entitys
affairs as of July 1 of the year when filed;
- July 1 and September 30, an annual report or statement shall be filed on
or before September 30 of each year and shall reflect the state of the entitys
affairs as of July 1 of the year when filed;
If the domestic of foreign entity is incorporated or registered in the same
year in which the annual report or statement is due, the domestic or foreign
entity shall not be required to file an annual report or statement for that year.
You will receive a yellow postcard with instructions in the mail to remind you
when to file.
- Income Tax Rate
- The income
tax rates are 4.4% of the first $25,000 of taxable income, 5.4%
of taxable income over $25,000 but not over $100,000, and 6.4% on
all taxable income over $100,000.
- S Corporation
- S Corporation
status is recognized by the State of Hawaii. Non-resident shareholders
must execute a consent agreement to pay Hawaii income tax on their
portion of the income in order for the S corporation to be recognized
for Hawaii purposes. A separate state election from the federal
election is not required.
- License Requirements
- Hawaii requires
most businesses to obtain a license and pay a fee if operating in
the state. Please check with the state to make sure your business
is complying with the license requirements for your particular profession.
For more information on taxes, visit
www.state.hi.us/tax/tax.html.
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