Form a S-Corp in Hawaii
Everything you need to know about forming a S-Corp in Hawaii. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose a Corporate Name
Select a unique name ending with 'Corporation', 'Corp.', 'Incorporated', or 'Inc.' and check availability with Hawaii DCCA.
30 minutes
Appoint a Registered Agent
Designate a registered agent with a Hawaii address to receive legal documents and official correspondence.
15 minutes
File Articles of Incorporation
Submit Articles of Incorporation to Hawaii Department of Commerce and Consumer Affairs with required information and $50 filing fee.
45 minutes
Obtain EIN from IRS
Apply for an Employer Identification Number from the IRS for tax purposes and banking.
20 minutes
What's Next After Filing
Once your S-Corp is officially formed, you'll want to complete these important steps:
- •File Form 2553 for S-Corp Election — Submit IRS Form 2553 within 75 days of incorporation to elect S-Corporation tax status.
- •Create Corporate Bylaws — Draft corporate bylaws outlining internal governance, voting procedures, and operational guidelines.
- •Issue Stock Certificates — Issue stock certificates to initial shareholders and maintain proper stock records and documentation.
Advantages
- ✓Pass-through taxation avoids double taxation
- ✓Limited liability protection for shareholders
- ✓Enhanced credibility and professional image
- ✓Potential tax savings on self-employment taxes
Considerations
- •Strict IRS eligibility requirements and ongoing compliance
- •Limited to 100 shareholders, all must be US citizens/residents
- •Required to pay reasonable salary to shareholder-employees
Annual Obligations
What OpenChamber Does
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