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.
You can choose to have the LLC taxed as S corp, C corp, partnership, or sole proprietor (disregarded entity) â whatever you want. In order to tell the IRS how you want your LLC taxed, you will get a tax ID number (SS4 Form). If you want your LLC tax filing to be as a corporation you will file a form 8832. After you have filled the 8832, if you want your LLC taxed as S corp, you will file a 2553.