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.
If the LLC is a multiple-member entity, it pays federal income taxes as a partnership. If the LLC is a single-member entity, it pays federal income taxes as a sole proprietorship. This means in most cases that the single-member LLC pays taxes by filing a Schedule C and including it in the owner's personal income tax return. LLC's can also elect to be taxed as either a corporation or an S corporation, making the confusion even greater.