"A "Shared Earnings Agreement" (SEA) isan arrangement between a business and an investor about an upfront investment in a startup or a small businessthat entitles the investor to a share of the future earnings (hence the name) of the business.
used as a substitute for equity-like structures like a SAFE, convertible note, or equity. It is not debt, doesn't have a fixed repayment schedule, doesn't require a personal guarantee."
Hawaii Shared Earnings Agreement between Fund & Company
State:
Multi-State
Control #:
US-ENTREP-0057-1
Format:
Word;
Rich Text
Instant download
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FAQ
The GET is a privilege tax imposed on business activity in the State of Hawaii. The tax is imposed on the gross income received by the person en- gaging in the business activity. The GET applies to nearly every form of business activity.
Where to File ? File Form N-196 and State copies of Forms 1099 with the Hawaii Department of Taxation, P.O. Box 3559, Honolulu, HI 96811-3559. Shipping and Mailing ? If you are sending a large number of forms, you may send them in conveniently sized packages. On each package, write your name and identifying number.
Any person who is in Hawai?i for a temporary or transient purpose and whose permanent residence is not Hawai?i is considered a Hawai?i nonresident. Each year, a nonresident who earns income from Hawai?i sources must file a State of Hawai?i tax return and will be taxed only on income from Hawai?i sources.
What is Form N-196? Form N-196 is an Annual Summary and Transmittal of Hawaii Information Returns used to report total number of 1099 forms and total amount reported.
A Shared Earnings Agreement establishes alignment between investors and founders without the need for equity, shares, preferred voting rights, or board seats.
A partnership return shall be filed in the first year the partners formally agree to engage in joint operation, or in the absence of a formal agreement, the first taxable year in which the organization receives income or makes or incurs any expenditures treated as deductions for Hawaii income tax purposes.
A 7.25% withholding obligation is generally imposed on the transferee/buyer when a Hawaii real property interest is acquired from a nonresident person.