How much does it cost to incorporate in Hawaii?

Establishing a formal corporate structure, safeguarding personal assets, and establishing credibility with clients and lenders can all be accomplished by incorporating a business in Hawaii. But how much does incorporating in Hawaii cost? What you should know is as follows.

Let’s start off by discussing how much it will cost to file the articles of incorporation with the DCCA in Hawaii. The filing price is $50, but you must pay an extra $25 for same-day service or $50 for 24-hour service if you want expedited processing.

In addition to paying the filing cost, you must designate a registered agent for your company. This person will receive legal paperwork on your company’s behalf. You have two options for acting as your registered agent: either you can pay a professional registered agent service, which normally costs between $100 and $300 each year.

The annual report fee, which is payable each year on the anniversary of your company’s incorporation, is another expense to take into account. For companies, the cost is $15, and for LLCs, it is $20.

Is there a franchise tax in Hawaii? Yes, companies and LLCs are subject to a franchise tax in Hawaii. The tax rate is now 6.4% for corporations and 4.9% for LLCs, and it is determined by the company’s net revenue made within the state.

You must submit an application to the DCCA in order to register your small business in Hawaii. This can be done by mail or online. The documents you must provide include a Business Registration Application as well as the Articles of Incorporation (for corporations) or the Articles of Organization (for LLCs).

Can I serve as my own registered agent in Hawaii, taking this into account? As long as you have a physical location in the state where legal documents can be served during regular business hours, you are permitted to serve as your own registered agent in Hawaii. The availability to receive legal documents during work hours is a requirement of being your own registered agent, which may not be possible for all business owners.

In conclusion, there is a $50 filing fee for incorporating in Hawaii, as well as additional costs for expedited processing. A registered agent must be chosen, and there is a cost for the annual report. There is a franchise tax in Hawaii, and the price of a business license varies according on the kind of business and the area. You can submit online or by mail with the DCCA to register your small business in Hawaii, and if you have a physical location there, you can serve as your own registered agent.