I'm trying to start a small LLC in Hawaii and I keep finding new fees. Filing fee, annual report, get this, a 'publication' requirement? What's the deal with all these? Can someone break it down without making me want to give up before I even start?
LLC Fees
Why are there so many different fees when starting a Hawaii LLC?
The publication thing is real. You have to publish a notice in a newspaper for like 4 weeks. It's an old law. Costs a few hundred bucks depending on the paper. Total pain.
Don't forget the annual report fee, which is like $15, but the filing fee itself is $50. And if you want to be expedited, that's extra. The real killer is the publication requirement as mentioned. Some people just skip it but that can causse problems later.
Wait, publication? I've never heard of that. Is that for all LLCs or just certain ones? I started mine last year and don't remember doing that.
It's for all new LLCs. You probably missed it or had a registered agent handle it. You can get fined if you don't do it. I think it's $500 penalty? Not sure.
The publication requirement is the worst. You have to do it within 120 days of formation. The newspaper charges by the word or something. I paiid around $300. Also, don't forget the GET tax license, that's another $20.
And if you're doing business under a different name, you need a trade name registration, another $25. Plus, if you have employees, there's unemployment insurance tax. It adds up.
So basically Hawaii wants to nickel and dime you before you even jake a dime. Got it.
Seriously, its like a scavenger hunt for fees. But thanks for the heads up on the publication thing, I had no idea it was mandatory. I'll budget for that.
Also, the annual report fee is $15, but if you're late it's a $25 penalty. And the biennial report? Wait, is it annual or biennial? I think it's annual now. I always get confused.