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.
A Single-Member LLC doesn't need to do anything to elect to be a disregarded entity, even though it does sound like that. The SMLLC just needs to file its business taxes on Schedule C. The alternative, which is for the SMLLC to be considered an association and taxed as a corporation, is that the SMLLC must file Form 8832 - Entity Classification Election (PDF).