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Though Hawaii has an estate tax, they have no franchise tax, tax on corporate
shares, gift tax or unitary tax. Still their poor ranking in the Tax Foundation's
Personal Income Tax Ranking Index of 43 comes from their 8.25% personal
Income Tax. The state is better than average when it comes to Corporate Income
Tax which varies, but earns Hawaii a Corporate Tax Index Ranking of 9. Nevada
has no Corporate or Personal Income Tax. Nevada incorporations can save a
lot in the long run thanks to the states strong asset protection policies.
See below for a comprehensive list of the advantages of incorporating your
business in Nevada over Hawaii.
| |
Nevada |
Hawaii |
|
State Corporate Income Tax ? |
None |
Various |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
9 |
Personal Income Tax ? |
None |
1.4% - 8.25% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
43 |
Franchise Tax ? |
|
|
Tax on corp shares ? |
|
|
Gift Tax ? |
|
|
Unitary Tax ? |
|
|
Estate Tax ? |
|
|
Statutory Indemnification of Officers, Directors & Employees ? |
|
|
Charging Order Protection for Corporation ? |
|
|
Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
|
|
Highest Standard of Corporate Veil Protection ? |
|
|
Series LLC Allowed ? |
|
|
Business Court* |
|
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Glossary of terms
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