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 direct equivalent of an LLC in Peru, but some similar corporate forms include: The capital for any of the above entities is freely determined by its statutes. There is no minimum requirement except for entities with certain types of activities, mainly in the financial markets, and then irrespective of their type. In Poland, a limited liability company is referred to literally as “company with limited liability” ("spółka z ograniczoną odpowiedzialnością", legally abbreviated as "sp. z o.o." (or sometimes "Sp. z o.o." in particular names). Informally, in the Polish speaking slang, it is abbreviated as "spółka zoo" (pronounced with a long