State Information

Hawaii

Selecting the Hawaii Corporation or LLC Name

When selecting a name for your new Hawaii corporation, it should be remembered that the name will identify you as a separate entity transacting business in the state. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

Since the name you select for your Hawaii based will be identifying your corporation or LLC as a unique entity, the name will not be accepted if it is likely to mislead the public or if it too closely resembles the name of another corporation or LLC formed in Hawaii.

During the process of naming your business, you may not use any type of punctuation such as dashes, hyphens, periods or commas in name selection. It is advantageous to try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A corporation within Hawaii can have several members as directors but is only required to have one if there is only one shareholder. If there are more than one shareholder, there must be a corresponding director for each shareholder up to a minimum of three. Since the board is responsible for managing the corporation, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. There is no minimum age requirement for a director in Hawaii but at least one director must be a state resident.

Hawaii Taxes

Corporations formed in Hawaii are expected to file the Hawaii Corporation Income Tax return, Form HI N-30 or Form HI N-35 annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors and there is no minimum amount due.

An LLC within Hawaii is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Hawaii maintains an individual income tax so employers are expected to withhold state income tax and unemployment tax. Hawaii maintains a sales and use tax with the rate being 5%.

Registered Agent

The registered agent must have a physical street address within Hawaii state. PO boxes are not acceptable, within Hawaii.

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