Are you looking to start a business in Hawaii? Do you have a winning idea and don't know where to begin? A corporation can be a great option depending on your business goals.
hawaii corp startup guide is agreed useful to know, many guides online will con you approximately hawaii corp startup guide, however i suggest you checking this hawaii corp startup guide . I used this a couple of months ago as soon as i was searching on google for hawaii corp startup guide
In this article, we will guide you through the steps required to start a Hawaii corporation.
How to Start a Hawaii Corporation is completely useful to know, many guides online will take effect you practically How to Start a Hawaii Corporation, however i recommend you checking this How to Start a Hawaii Corporation . I used this a couple of months ago as soon as i was searching on google for How to Start a Hawaii Corporation
Step 1: Choose a Name
The first step in starting a corporation is to choose a name for your business. The name must be unique and can easily distinguish your business from other existing corporations.
Pro tip: Before choosing a name, search the Hawaii business name database to make sure it's not already taken.
Once you have decided on a suitable name, you'll need to register it with the Hawaii Department of Commerce and Consumer Affairs (DCCA).
Step 2: Appoint Directors
A corporation is governed by a board of directors, and so you'll need to appoint directors to help oversee the affairs of the corporation.
Pro tip: Hawaii requires at least one director to be appointed for a corporation.
Step 3: File Articles of Incorporation
The next step is to file the Articles of Incorporation with the Hawaii Division of Corporations. These are legal documents and include the name of the corporation, the purpose of the corporation, the company's address, and the directors' names, amongst other things.
Pro tip: Keep in mind that the filing fee for Articles of Incorporation in Hawaii is $50.
Step 4: Obtain Necessary Permits and Licenses
Before conducting any business activities in Hawaii, you must obtain the necessary business licenses and permits to operate legally. Different business types require different permits and licenses.
Pro tip: Each county in Hawaii has its permitting process. For example, a construction business will need to obtain a contractor's license from the Department of Commerce and Consumer Affairs.
Step 5: Prepare Bylaws
Bylaws are the legal rules and regulations of the business. They govern how the corporation operates, and they may affect matters such as issuing or transferring shares of stock, and when and how board meetings take place.
Pro tip: You do not need to file Bylaws with the Division of Corporations, but you will need to have them available should they be required.
Step 6: Acquire an Employer Identification Number (EIN)
An Employer Identification Number (EIN) is a unique number assigned by the Internal Revenue Service (IRS) to identify a business entity. It's necessary for tax filings and opening business bank accounts.
Pro tip: Applying for an EIN is free through the IRS website.
Step 7: Hold an Organizational Meeting
Finally, once the business has been established with all the necessary permits and licenses, and bylaws are finalized, you will need to have a organizational meeting with your board of directors.
Pro tip: The meeting should cover a range of topics such as the issuance of stock, the appointment of officers, and acceptance of Bylaws.
Starting a Hawaii corporation may seem daunting but taking it step by step should ease the process for you. With a solid business plan, proper filing documents and necessary licenses and permits the process will go a lot smoother.
Remember to keep an open mind and stay positive throughout; running a business is not easy so it's important to stay patient and persevere.
Thank you for reading, If you want to read more articles about How to Start a Hawaii Corporation don't miss our homepage - Artistic Visions by Travis Louie We try to write the site every day