Starting a Business In Hawaiʻi -facilitated by Hawaiʻi SBDC, Maui Center

Event description

FUNDAMENTALS OF STARTING A BUSINESS IN HAWAIʻI
ARE YOU READY?
• What it takes to be in business and Business Idea Checklist
• Business Planning

REGISTERING YOUR BUSINESS
• Forms of Organization—(Sole Proprietorship, Partnership, Limited Liability Company (LLC), Corporation—”S” or “C” or “B” )
• Register Hawaii Organization with DCCA
• Federal (IRS) business tax ID number -also called your Employer Identification Number (EIN)
• FINCEN (new) Beneficial Ownership Info Registration
• Basic Business Application Form BB-1 -General Excise Tax
-What is Hawaii’s General Excise Tax (GET)?
• Federal and state licenses or permits that you may need
• Business Federal Tax Considerations:
-Income Tax -State & Federal (estimated tax requirement)
-Social Security / Self-Employment Tax