Sometimes, opening and owning your own business can be intimidating. Most of the people in Hawaii are not taught how to register a business properly, let alone how to manage one.

Here are a few Hints and Tricks we can give you so you could understand what is generally needed to open a Limited Liability Company in Hawai'i.

You will generally need to;

1. Create a name for your business (keep in mind that in the State of Hawaii your business name needs to have LLC at the end. Make sure that the name you chose isn't already taken)

1. Federal Identification Number (think of this as a Social Security number for your business so that the govenrment can identify it as a seperate entity) FREE

2. Register the LLC business with the State (you have to register your business with the state to aquire articles of formation) $50

3. Retrieve a General Excise number (a GE number is kind of like a social security number that the state will use to keep record of your state tax payment) $20

4. Create an Operating Agreement (Operating agreements are not required in this state but are highly recommended and needed to open a business bank account)

It is highly advisable that you also open a Business Checking Account. Keep your personal transactions seperated from business transactions.

Do you already own a business but are unsure about the requirements or what you have to do as a business owner? Do you know what kind of taxes to pay and its due dates? Do you know what you can use as a tax write-off and how to properly account for it?

Don't wait too long to ask the questions you need to ask. Let us give you some clarity to your questions and provide answers. If we can't answer your questions we will find an expert who can. Click the link below to book a free 30 min consultation.