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
The Smith's Snackfood Company The Smith's Snackfood Company The Smith's Snackfood Company is a British-Australian manufacturing company best known for its crisps (potato chips). It is owned by the American multinational corporation, PepsiCo. The company produces and markets various snack foods. Smith's Snackvend Stand is the branch of the company that operates vending machines. Smith's Potato Crisps Ltd. was formed by Frank Smith and Jim Viney in the United Kingdom after World War I. The firm started in Cricklewood, London, reputedly in Smith's garage. In 1927, after buying Jim Viney's share of the business, the company expanded into a factory in Brentford, London, which