1. Amway is a global leader in the $102-billion direct selling industry. More than three million Amway Business Owners operate independent businesses in more than 80 countries and territories around the world.
A single-member limited liability company, as a solely owned LLC is called, gives the owner a choice of how to be taxed -- as a sole proprietorship, an S corporation or a C corporation.The legal structure of the business itself doesnât change with any of the choices.nder an S corporation classification, a single-member LLC needs to have a large enough profit in excess of the ownerâs salary to realize any tax savings on passive income.
An S corporation does not pay corporate income tax. Instead, its shareholders report the companyâs income on their personal tax returns. An LLC can be taxed as a disregarded entity, meaning it is taxed in the same way as a sole proprietorship or partnership. An LLC can also elect to be taxed as an S corporation.