Private limited company including limited companies and US LLCs, are treated as bodies corporate subject to United Kingdom corporation tax if the profits of the entity belong to the entity and not to its members. A limited liability company (LLC) is a relatively new business structure authorized by state statutes. The LLC is chiefly inspired by the GmbH ("Company with limited liability"), a type of business organization in Germany, and by the , a type of business organization available in many Latin American countries. In the United States, the first limited liability company act appeared in Wyoming in 1977 as special interest legislation
Private limited company LLC. Japanese Tax authority does not consider J-LLC (Godo-Kaisha) a pass-through entity, but as a taxable entity. Limited liability company in Latvia is referred to as "sabiedrība ar ierobežotu atbildību" (SIA). SIA is taxed as a corporation. The minimum share capital required by law is €2,800. But it is allowed to set up SIA with share capital €1.00, but it must be increased to minimum share capital €2,800 by increasing share capital with money or by moving at least 25% from annual profit until capital will be €2,800. Macedonian legislation contemplates LLCs as "Друштво со ограничена одговорност" ("Drushtvo so ogranichena