Professional services businesses
Hawaii allows professionals, such as accountants, attorneys and physicians, to form a
professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Hawaii corporations.
Corporations must keep accurate and complete corporate records at the principal place of business.
Corporate taxes and fees
The following are taxation requirements and and ongoing fees for Hawaii corporations:
- Annual report and franchise tax.Hawaii requires corporations to file an annual report. The annual report filing fee is $15 and the due date is tied to the anniversary of the company’s incorporation:
- If the anniversary date is between January 1 and March 31, the report is due on or before March 31 and the report must include information current as of January 1.
- If the anniversary date is between April 1 and June 30, the report is due on or before June 30 and the information included must include information current as of April 1.
- If the anniversary date is between July 1 and September 30, the report is due on or before September 30 and must include information current as of July 1.
- If the anniversary date is between October 1 and December 31, the report is due on or before December 31, and must include information current as of October 1.
- Taxes. For complete details on state taxes for Hawaii corporations, visit Business Owner's Toolkit or the State of Hawaii .
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Hawaii does not require a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Hawaii recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional Hawaii information
View the following additional resources BizFilings has for forming and maintaining companies in Hawaii:
Hawaii LLC Formation