In 2005, the Base Realignment and Closure. Commission (BRAC) mandated consolidation of these. 2 institutions into a new Walter Reed National Military. Medical Center that would be constructed onthe grounds. of the National Naval Medical Center in Bethesda, Maryland.' This new medical facility is intended to pro-.
proprietary companynoun [ C ] uk â us â. âº a company that owns enough shares of another company to control it: Mutuals delivered better returns than proprietary companies. âº LAW in Australia, New Zealand, and South Africa, a type of limited company (= one whose owners only have to pay part of the money they owe if it fails).
Limited Liability Companies Treated as Corporations. A limited liability company may be classified as an association taxable as either a C corporation or an S corporation. California and federal laws treat these limited liability companies as corporations subject to all corporation tax laws.imited Liability Companies Treated as Corporations. A limited liability company may be classified as an association taxable as either a C corporation or an S corporation. California and federal laws treat these limited liability companies as corporations subject to all corporation tax laws.