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.
As with the single-member LLC, self-employment taxes only need to be paid if the LLC engages in an active trade or business. LLC as a C corporation. An LLC can elect to be treated as a corporation for tax purposes by filing Form 8832 with the IRS.In this case, the LLC files a corporate tax return 1120. And the LLC profits are not subject to self-employment taxes.his is whatâs typically called pass-through taxation, as the LLC does not need to file any tax forms. You will only need to pay self-employment taxes if you are engaged in an active trade or business; for example, if you provide a service to clients or sell a product.