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Forming an LLC in Hawaii
Forming an LLC in Hawaii is not difficult. Those who want to make the process even easier can hire a legal expert or an incorporation company to do the job for them. If you decide to take care of the task yourself, it is still recommended to have an attorney look at the Operating Agreement. A vague or improper Operating Agreement can cause taxation problems later on. Paying an attorney when forming an LLC in Hawaii can therefore save you a lot of money in the long run.
Forming an LLC in Hawaii in 5 easy steps
- Pick a suitable name for you company. It must contain an LLC identifier, such as “Limited Liability Company” or “LLC”. It cannot violate trademark law or be identical to a name used by another LLC.
- File Articles of Organization at the Hawaii State filing office.
- Hold an organizational meeting with the members of the LLC to formally adopt the Operating Agreement.
- Get a Federal Employer Identification Number (FEIN) for your LLC and open a company bank account.
- Make sure that your LLC has a local business license for each city (or county) in which you plan to conduct business.
Important facts to take into consideration before forming an LLC in Hawaii
- The minimum filing fee for the state of Hawaii is no more than $50.00. (For 30 business days.)
- By forming an LLC in Hawaii, you agree to hand in an annual report once a year. The annual report is due on March 31 and the fee is $15.00.
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