Choose a Legal Structure
When starting a business, make an informed decision on how you will own and operate your business. Your choice of entity (business structure) can affect personal liability, management of the business, tax filing responsibilities, as well as estate planning considerations.
We suggest you seek additional advice from a qualified attorney or accountant before making a selection. Here, we provide general information for you to consider.
The most common types of business structures are:
- Sole Proprietorship
- General Partnership
- Limited Partnership
- Limited Liability Partnership
- Limited Liability Limited Partnership
- S Corporation
- Limited Liability Company
For more discussion on entity types, visit the following sites:
- Hawaii Revised Statutes
- From the SBA Website