Does Hawaii Have an LLC Tax Return?

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How Are LLCs Taxed in Hawaii?

  • Hawaii LLCs must report a 4% General Excise Tax on all sales.
  • An LLC regarded as a corporation is subject to a 4.40 to 6.40% Hawaii corporate income tax rate.
  • LLCs with a revenue threshold of over $100,000 must pay 6.4% income tax.

State Taxes in Hawaii vs. Other States

  • Hawaii currently has a 4% state tax rate, ranking 41st among all states.

LLC Registration and Taxation in Hawaii

  • To do business in Hawaii, all LLCs organized outside the state must register with the Hawaii Department of Commerce and Consumer Affairs Business Registration Division.

  • Foreign LLCs must appoint a registered agent physically located in Hawaii.

  • Names may be checked for availability by searching the Business Registration Division business name database.

  • It will cost you $50 to register your LLC in Hawaii with the Hawaii Department of Commerce and Consumer Affairs Business Registration Division, plus an additional $1 State Archives fee.

  • LLCs organized outside Hawaii must register with the state and appoint an in-state registered agent.

  • The reservation fee for name reservation is $10.

  • Hawaii LLCs are considered pass-through entities.

  • All taxable profits are passed on to members, who claim them on their personal tax returns.

  • Apart from GET taxes, Hawaii does not collect additional state taxes on LLC profits.

  • LLC owners must pay self-employment tax at a rate of 15.3% on profits.

  • LLCs in Hawaii must pay state excise tax and can be subject to other taxes based on their business activities.

  • LLCs don’t file separate federal income tax. Instead, LLC income and expenses appear on owners’ returns. However, LLCs may file an informational return, Form 1065.

  • LLC owners pay self-employment tax at a 15.3% rate on profits.

  • LLCs in Hawaii are required to pay state excise tax and can be subject to other taxes based on their business activities.

  • Hawaii levies a 4% general excise tax (GET) instead of a sales tax. The state collects GET from businesses while businesses collect sales tax from customers.

  • Hawaii LLCs must pay state excise tax. Taxes owed depend on rules like a 4.4 to 6.4% corporate income tax rate for LLCs subject to corporation taxes. LLCs with over $100,000 revenue pay 6.4% income tax.

  • To recap, Hawaii has a 4% state tax rate ranking 41st amongst states.

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