Think starting a business sounds interesting, but need a little more information? Our answers to the most frequently asked questions about LLCs and doing business in Hawaii will help you decide whether doing business there is right for you.
What Is an LLC?
LLC stands for “limited liability company” and describes a business structure that is easier to create and maintain than a corporation, but more formal than a partnership or sole proprietorship. It provides personal legal protection against liability for the activities of the business, which encourages entrepreneurs to start their businesses since only their investment is at risk — not their personal assets.
LLCs are governed by state law, so each state has nuanced requirements for creating them. A domestic LLC is created and operated in one state, while a “foreign” LLC is created in one state and registered to do business in another. Some states…