You must register for a Hawaii Tax Online (HTO) account in order to apply online. You can then apply for your GET number after creating an account. Basic information about your company will need to be provided, including the name, address, and type of business you are launching.
Visit one of the Hawaii Department of Taxation district offices if you’d prefer to submit your application in person. You must bring a legitimate photo ID and your business registration paperwork, such as your articles of organization or incorporation.
Moving on to related queries, a S Corp can be owned by a single-member LLC. It is crucial to remember that a S Corp can only have up to 100 shareholders, all of whom must be citizens or residents of the United States. Additionally, the single-member LLC must choose to be taxed for federal tax purposes as a S Corp.
The property in an LLC belongs to the LLC as a whole, not to the individual members. Although the LLC’s members possess a portion of the business, they do not own any of the real estate that the LLC owns.
A PLLC, or professional limited liability company, may be formed in Hawaii. For licensed professionals like doctors, lawyers, and accountants, this kind of LLC is intended. Last but not least, Hawaii doesn’t impose a specific tax on self-employment. However, Hawaii’s state income tax, which ranges from 1.4% to 11%, is imposed on self-employed people. Additionally, the federal self-employment tax, which is now 15.3%, may apply to self-employed people.
Getting a Hawaii GET number is a requirement for opening a business in the state, to sum up. You can apply in person or online, and the procedure is quite simple. To make sure your firm is legally compliant and appropriately constituted, it’s also crucial to comprehend the laws and rules in Hawaii pertaining to LLCs, S Corps, property ownership, and taxes.