Hawaii is a state of the USA located in the Pacific Ocean. It is the only U.S. state located outside North America, the only island state, and the only state in the tropics. The state encompasses nearly the entire Hawaiian archipelago with 137 islands.
The state is named after the largest island - Hawaii Island. The state of Hawaii has a total area of 10,931 square miles (28,311 km2).
By 2019, the population of Hawaii was about 1.42 million people.
English is the official language of Hawaii, about 90% of Hawaii residents speak English at home. Other common languages are Spanish (>7%), Korean, Vietnamese, French, Chinese, German, etc.
The Government of Hawaii is the governmental structure as established by the Constitution of Hawaii, the 50th state to have joined the United States, including 3 branches:
According to The Bureau of Economic Analysis, the GSP of Hawaii estimates for 2019 was $83.51 billion. Hawaii's per capita personal income in 2019 was $58.981.
United States Dollar (USD)
The business laws of Hawaii are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Hawaii are familiar to many lawyers both in the US and internationally. Hawaii has a common law system.
One IBC supply incorporation in Hawaii service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
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How to start a business in Hawaii, USA
Share Capital:
There is no minimum or a maximum number of authorized shares since Hawaii incorporation fees are not based on the share structure.
Director:
Only one director required
Shareholder:
Minimum number of shareholders is one
Hawaii company taxation:
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Local Agent:
Hawaii law requires that every business have Registered Agent in the State of Hawaii who may be either an individual resident or business that is authorised to do business in the State of Hawaii
Double Taxation Agreements:
Hawaii, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Hawaii taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
The State of Hawaii Basic Business Application, BB-1 Packet, must be completed and submitted by mail or in person with the one-time $20 license fee at.
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The due date for filing periodic returns (Monthly, Quarterly and Semi-annually) is the 20th day of the month following the close of the tax period.