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 obligations within the limit of their contribution to social capital. The minimum start capital is 200 RON which currently amounts to less than €50. In Russia and certain other former Soviet countries, an entity with a somewhat similar structure is known as (Obshchestvo s ogranichennoy otvetstvennost'yu) (lit., "company with limited liability"), usually abbreviated OOO, or in some CIS countries as OcOO. Although a Russian limited liability company shares the same name with an American LLC, it is different in many ways. Most importantly, a Russian LLC is not tax transparent: the company is taxed at the corporate level, and then,