Corporate Name Requirements
* The name shall contain the word “corporation”, “incorporated”, or “limited”, or an abbreviation thereof. The name shall not be same as, or substantially identical to, name of other corporation, partnership, or foreign corporation or partnership existing or authorized to transact business within state.
Articles of Incorporation Requirements
Director Information
- Minimum Number – The minimum number is 3, unless the number of shareholders is less than 3, then the minimum number of directors must equal the number of shareholders.
- Residence Requirements. – At least one director shall be state resident.
- Age Requirements – None.
- Directors are required to be listed in the articles of incorporation.
Officer Information
- The officers are required to be listed in the articles of incorporation.
Stock Information
- No initial additional fees with additional stock or par value.
Yearly Requirements
Annual Statements
- Domestic corporations must file annual report with Department of Commerce and Consumer Affairs by March 31.
Income Tax Rate
- 4.4% of first $25,000 of taxable income
- 5.4% of taxable income over $25,000 but not over $100,000
- 6.4% on all taxable income over $100,000
For more information on taxes, visit Hawaii Department of Taxation
C-Corporation
- Shareholders have limited liability protection
- May be listed and traded as a publiccorporation on the stock market or “over the counter”
- Has a separate and independent tax status from its owners
S Corporation
- Profits are not subject to “double taxation”
- Corporate losses may be “passed through” to share holders
- Shareholders are afforded the same protection as C Corp.
LLC formation
- Contains characteristics of both corporation and partnership
- Shareholders may take advantage of “Pass-Through” taxation
- Limited liability for share holders
Not for profit corp
- Eligible for tax-exempt status
- Limited Liability protection
- Qualify for public and private gains