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.
When filing for income tax, the owner of a single-member LLC treated as a disregarded entity must use the ownerâs Social Security number, or if she has one, the ownerâs separate EIN, on all returns and forms related to income tax., even if the LLC has its own EIN.ut the Internal Revenue Service did not create a new tax classification for an LLC, instead applying its already existing classifications for businesses: sole proprietorship, partnership or corporation. The term âdisregarded entityâ applies only to a single-member LLC, as an LLC with only one owner is called.