Dissolving Your Company in Hawaii
Company Dissolution in Hawaii
To dissolve a company in Hawaii first step is to have a meeting of its members (for LLC) or directors/shareholders (for corporation) and have a resolution drafted authorizing dissolution. Once such resolution was ratified, the process of dissolution involves the following steps:
1. Obaining Clearances & Consents
There are no clearances of consents required to dissolve a company in Hawaii.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Hawaii Department of Commerce and Consumer Affairs. The processing of dissolution at the Hawaii Department of Commerce and Consumer Affairs level takes about 5 business days, with expedited option available (3 days).
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Hawaii.
4. Updating Other Agencies & Company Documents
Don’t forget to notify the IRS and other state agencies regaring the dissolution. Also, make sure you file a “final” tax return for the company.
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