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
• Corporation
• S Corporation
• Limited Liability Company

For more discussion on entity types, visit the following sites:

• Legal information, including definition of business entities and links to Hawaii statutes
• Business Entity Comparison Chart
• From the IRS Website