What is an Hawaii Corporation?
Hawaii Corporation or Hawaii INC, is a business formation registered with the DCCA (Department of Commerce and Consumer Affairs). The Hawaii Corporation will be able to issue shares of stocks to employees and investors, unlike an LLC in Hawaii.
Hawaii Corporation Requirements
- State Filing Fee of $50.
- A Registered Agent located in Hawaii. See our service here.
- Articles of Incorporation.
- Beneficial Ownership Information Report filing. Report due after company formation starting January 1, 2024.
Hawaii Corporation Structure
HI Corporations are structured legally with the Hawaii Articles of Incorporation. Like many states, the document for a Corporation formation is short and simple.
The required information to be listed:
- The Hawaii Corporation Name
- Mailing Address
- Name of Registered Agent and Registered Office
Hawaii Corporation Name
The name of the Hawaii Corporation shall be listed on the Articles of Incorporation.
You will be required to list the mailing address of the Principal Office for the Hawaii Corp.
Hawaii Registered Agent
A name and address of the Registered Agent located in Hawaii will be listed. The Registered Agent can be a person or a business entity.
List how many common shares that you want the HI INC to be able to issue.
The name and address of each Incorporator of the Hawaii Corporation shall be listed.
|Hawaii Incorporation Facts|
|The Filing||Articles of Incorporation|
|Filing Agency||Department of Commerce and Consumer Affairs|
|Our Fee||$195 (includes registered agent service)|
|Annual Business Filing Due||Anniversary Quarter|
|Annual Business Filing Fee||$15|
|State Corporate Tax||4.4% to 6.4%|
How to File an Hawaii Corporation
Steps in forming an Hawaii Corporation:
- Corporate Name: Your first step to starting a corporation is picking the proper name for your company. A corporate name must adhere to the laws of the state, and it cannot already be on file with the Department of Commerce and Consumer Affairs. To see if your name is available, do a business Entity Name Search for Hawaii.
- Articles of Incorporation: To incorporate in Hawaii, you file Articles of Incorporation. This document is submitted to the Department of Commerce and Consumer Affairs. You can mail this filing, hand-deliver it, fax it, or file it online. There is a $50 filing fee for the Hawaii Corporation.
- Registered Agent: When you submit Articles of Incorporation, you must designate on the filing a Hawaii registered agent to accept service of process on behalf of your corporation. A registered agent can be an individual resident, a domestic entity, or a foreign entity.
- Corporate Bylaws: Every corporation needs bylaws, the internal corporate document that designates the initial shareholders (owners) of the company and outlines the management structure of the business. Bylaws are like a blueprint for how your corporation runs.
- Business Bank Accounts: After you form a corporation, you can open business bank accounts. From these accounts, your corporation can process all monetary transactions for the business. Most banks will require copies of your Articles of Incorporation, bylaws, and an initial resolution certifying that the accounts can be opened.
- Annual Business Filing: Once you incorporate in Hawaii, you will be required to file an Annual Business Filing. This is filed during the anniversary quarter of your incorporation. There is a $15 filing fee. The Annual Business Filing can be submitted online.
- Beneficial Ownership Information Report Filing: After formation, you must file a BOI report with the Financial Crimes Enforcement Network. Reporting begins January 1, 2024 and must be completed online. There’s no fee to file.
What Words Must Be Included in My Hawaii Corporation Name?
The Hawaii Revised Business Corporation Act requires that a corporation in Hawaii use one of the following designators when naming their corporation:
What is a Sustainable Business Corporation?
When you incorporate in Hawaii, you have the option under the Hawaii Revised Code §420D to elect to be a Sustainable Business Corporation (SBC). An SBC is a for-profit corporation which also has as one of its corporate purposes the general public benefit.
Examples of endeavors that provide a general public benefit are (but are not limited to):
- Providing low-income or underserved individuals with beneficial products/services
- Preserving the environment
- Improving human health
- Promoting arts, sciences or advancement of knowledge
- Increasing the flow of capital to entities with a public benefit purpose
To elect to be an SBC, you must include language within your Articles of Incorporation stating that your company is a Sustainable Business Corporation.
Hawaii Registered Agent Duties
A Hawaii registered agent is legally bound to provide a physical street location within the state, known as a registered office, where service of process (notice of a lawsuit) and other important business mail can be reliably delivered throughout the year. The agent must keep the office open during regular business hours. When mail is accepted on behalf of clients, the registered agent must contact the cleint, inform them that a document has arrived, and then forward the document to the client in a timely manner.
Your Hawaii registered agent will also be the main contact point between your corporation and the Department of Commerce and Consumer Affairs. The DCCA will send Annual Business Filing reminders and tax notifications to your registered agent, who is required to keep you informed about compliance deadlines.
After you form a corporation in Hawaii, you must file an Annual Business Filing each year during your anniversary quarter. There is a $15 filing fee. You can file online for your Hawaii Corporation.
Hawaii state corporate tax is between 4.4% and 6.4%.
Federal Beneficial Ownership Information Report Filing
Starting January 1, 2024, most newly-formed corporations are required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN) following company formation. On your report, you’ll need to disclose some basic details about your company and those with the most control over your corporation’s profits and operations. Save yourself from the additional paperwork with our $9 BOI report filing service.
Why Hire Corporate Filing Solutions to Form Your Hawaii Corporation?
Starting your Corporation in Hawaii shouldn’t be a hassle or a time consumer. That’s why we offer Filings Made Easy™ to make starting a Corporation in Hawaii super easy.
Hire us and relax while our filing experts form your new Hawaii Corporation. Our staff will process orders the same business day as they are received. To make things even easier, we bundle the first year of registered agent service and ensure your Hawaii Corporation comes fully equipped and ready to do its job.
Start your Corporation in Hawaii and get Registered Agent service for as low as $55 a year.