If you look at the United States business establishment sector, you will find, that everything is very individual. Every single state is made for different type of businesses and you should be very careful, when you choose one.
Former „Sandwich islands“ are a paradise destination for surfers and entrepreneurs
- 50th US federal state situated in the Pacific Ocean
- The capital is Honolulu with almost 1,5 million of inhabitants
- The only island nation in the United states
- Formerly had a name Sandwich Islands and were discovered by James Cook
Hawaii for business
- Hawaii is a place that currently offers many business opportunities for new start ups with a perfect taxation system no franchise tax, tax on corporate shares, gift tax or unitary tax
- Most popular areas of businesses are services to tourists and the corporate sector, food production, fisheries or art.
- In particular tourism sector has recently been on the rise and there may be a lot of new hotels and tourist resorts.
- With Business in Hawaii it is also possible to obtain a green card, and the possibility of long-term lawful residence in the United States. (Learn more about Immigration Programmes)
- Hawaiian government requires very bureaucratic matters and most forms may be procured online, making it easier to all business activities. Less paperwork for you!
What you need to know, if you want to do business in United States?
Taxation. Before doing business in USA, please go through this information.
In the United States there are two basic types of companies with different ways of taxation.
- First is Corporation (C-Corp), which pays tax on corporate income at both federal and state levels. If the company wants to pay dividends and has yet to pay withholding tax on dividends, which is also a federal state. Taxes of that type of company are very high. This type of company can be optimized by asking the US tax authority to allow us to pay taxes only on a personal level (this creates an S-Corp). This, if a company earns a hundred thousands.
- Second basic type is a Limited Liability Company (LLC), where earnings are taxed directly to the shareholders in proportion to their ownership of the company. Florida "S" corporations are not taxable entities. This means they're not required to file state income tax returns after the first year resulting in saved tax dollars.
- Florida state income tax is an additional 5.5%. The advantage is that Florida imposes zero tax on income of individuals. Base rate "sales tax", which is added to physically sold products is 6%.
Tax system in the United States.
Tax system in the United States is quite complicated and extensive. There are federal taxes that are used to finance projects of federal and state taxes, which is determined by each state separately. Precisely because of state taxes, some states are better for business, because the sizes of these taxes can be a noticeable difference. The federal tax on corporate income ranges from 15% to 35% depending on their taxable income. The lowest rate applies to earnings $ 50,000. Generally, the tax system in the US is very comprehensive, and effective adjustment of structure and selection of the company is always useful to their situation individually consulted with professionals.