Are you looking to close your business in Hawaii but don’t know where to start? You’ve come to the right place! In this article, we’ll guide you through the process of dissolving the LLC or corporation in Hawaii in three easy steps.

How to Close a Business in Hawaii?

Closing a business in Hawaii is not a difficult process, but there are several steps that you need to take to ensure that everything is done correctly. Generally, the process depends on the type of entity you’re operating. If your business is an LLC, you’ll need to file the Articles of Termination (Form LLC-11) along with the nonrefundable filing fee. For corporations, you’ll need to file the Articles of Dissolution (Form DC-13). Here’s how to close a business in Hawaii:

Steps to Close an LLC in Hawaii

  • Follow Your Hawaii LLC Operating Agreement: Before dissolving your LLC, you must follow the terms of your operating agreement. This may involve giving notice to the other members, giving notice to creditors, and paying any outstanding debts.
  • Close Your Business Tax Accounts: You’ll need to contact the Hawaii Department of Taxation to close your business tax accounts. You may also need to file a final report with the Department.
  • File Articles of Dissolution: Once you’ve followed your operating agreement and closed your business tax accounts, you’re ready to file the Articles of Termination (Form LLC-11) to the Hawaii Department of Commerce and Consumer Affairs.

Steps to Dissolve a Corporation in Hawaii

  • Follow Your Hawaii Corporation Operating Agreement: Before dissolving your corporation, you must follow the terms of your operating agreement. This may involve giving notice to the shareholders, giving notice to creditors, and paying any outstanding debts.
  • Close Your Business Tax Accounts: You’ll need to contact the Hawaii Department of Taxation to close your business tax accounts. You may also need to file a final report with the Department.
  • File Articles of Dissolution: Once you’ve followed your operating agreement and closed your business tax accounts, you’re ready to file the Articles of Dissolution (Form DC-13) with the Hawaii Department of Commerce and Consumer Affairs.

Now that you know how to close a business in Hawaii, you’re ready to start the process. If you need more help or have any questions, AtlantaBusinesses.com is a great resource for answers to all your questions about selling a business and about business brokers.

What is the process for shutting down a business in Hawaii?

To end your Hawaii Corporation, you will need to submit Hawaii Articles of Dissolution (Form DC-13) to the Business Registration Division (BREG) of the Hawaii Department of Commerce and Consumer Affairs. The documents cannot be filed online and must be sent in by mail, fax, or in person.

What is the cost of running an LLC in Hawaii?

Hawaii LLCs must submit an annual report to the state as per the law. The fee for the report is $12.50 if you submit it online, or $15 if it is sent by post.

What are the results of a corporation being shut down?

Once a company is dissolved, it must convert its assets into cash. This involves selling or auctioning off any property, equipment or other non-monetary assets that the company owns. It is important to remember that you can only liquidate assets owned by the company and not those used as security for loans.

What steps do I need to take to reactivate my LLC in Hawaii?

In order to revive or reinstate your Hawaii LLC, you will need to submit the Hawaii Application for Reinstatement (Form X-4), a tax clearance certificate from the Hawaii Department of Taxation, any annual reports that are overdue, as well as a $25 filing fee.