Start an LLC in Hawaii in 5 Simple Steps
Step 1. Name Your Hawaii LLC
Step 2. Select a Registered Agent
Step 3. Keep the Articles of Organization on file.
Step 4. Make a Business Agreement
Step 5. Obtain an EIN
It is simple to form an LLC in Hawaii.
To form a Hawaii LLC, submit the Articles of Organization to the Department of Commerce and Consumer Affairs, which costs $50. You may submit your application online, via mail, fax, email, or in person. The Articles of Organization are the legally binding documents that establish your Hawaii limited liability corporation.
STEP 1: Give your Hawaii LLC a name.
The first and most crucial step in establishing your Hawaii LLC is to choose a name that conforms with Hawaii naming rules and is readily searchable by prospective customers.
1. Follow the naming conventions:
The word “limited liability corporation” or one of its acronyms must be in your name (LLC or L.L.C.).
Your name cannot include terms that might be confused with a government entity (FBI, Treasury, State Department, etc.).
Restricted terms (e.g., bank, attorney, university) may need extra documentation and the participation of a licenced professional, such as a doctor or lawyer, in your Hawaii LLC.
2. Availability of Hawaiian names. Do a company name search on the Hawaii State website to ensure that the name you choose isn’t currently in use.
STEP 2: Select a Hawaii Registered Agent
A Hawaii Registered Agent must be designated for your Hawaii LLC.
What exactly is a Registered Agent? A registered agent is a person or corporate organisation that accepts vital legal papers on your behalf. Consider your registered agent to be your company’s point of contact with the state.
Who is eligible to be a Registered Agent? A Registered Agent must be a Hawaii person or a company, such as a registered agent service, that is permitted to do business in Hawaii. You may choose someone from your organisation, even yourself.
STEP 3: File the Articles of Organization for your Hawaii LLC.
Form LLC-1 – Articles of Organization must be filed with the Department of Commerce and Consumer Affairs to register your Hawaii LLC. This may be accomplished online, via mail, fax, email, or in person.
Now is a good moment to decide whether your LLC will be administered by members or by managers.
STEP 4: Draft an Operating Agreement for Your Hawaii LLC
An operating agreement is not necessary when forming an LLC in Hawaii, although it is a good idea to have one.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
STEP 5: Apply for a Hawaii LLC EIN.
What exactly is an EIN? EIN is an acronym that stands for Employer Identification Number. EINs are nine-digit numbers provided by the Internal Revenue Service (IRS) to companies to assist them be identified for tax reasons. It is basically a business’s Social Security number.
An EIN is also known as a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN) (FTIN).
Why do I need an EIN? An EIN is necessary in order to:
Establish a business bank account.
Filing and managing federal and state income taxes
Employ people
What if my single proprietorship already has an EIN? When transitioning a sole proprietorship to an LLC, the IRS demands a new EIN.
Where can I get an EIN? The IRS will provide you an EIN for free. Obtaining an EIN is a simple procedure that may be completed online or by mail.
