LLC fees in Hawaii
Varies
Are LLC Fees Tax Deductible in Hawaii?
Short answer: Yes, as a business expense: Hawaii charges $50 + $1 State Archives fee to form an LLC; ongoing: $12.50 online / $15 paper annual report. Due by end of the calendar quarter containing the formation anniversary date; not due in the year of formation.
Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Records to keep: Keep the state filing receipt, proof of payment, and your LLC's formation and annual report confirmations.
LLC fees in Hawaii
Varies
General Business
Yes, as a business expense: Hawaii charges $50 + $1 State Archives fee to form an LLC; ongoing: $12.50 online / $15 paper annual report. Due by end of the calendar quarter containing the formation anniversary date; not due in the year of formation.
Business justification
Yes, as a business expense: Hawaii charges $50 + $1 State Archives fee to form an LLC; ongoing: $12.50 online / $15 paper annual report. Due by end of the calendar quarter containing the formation anniversary date; not due in the year of formation. Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Category
- Tax Write-Off Rules