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 the most common form of doing business in Hungary. As being part of the European Union (EU), Hungarian Kft.s can now obtain an EU VAT registration number for doing business across the EU. The Hungarian EU-VAT reg. number starts with "HU". This way the existence of the subject company, VAT issues and the cross-check is available on the common EU website for companies. According to Icelandic legislation, there are two types of LLC forms, private and public held limited liability forms. Private LLC is abbreviated "Ehf." The minimum capital of 500,000 Icelandic krónas (kr.). Public LLC is abbreviated "Hf." with