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 major properties have to be sold. Nonetheless, the responsibility of the partners is limited to the capital share they hold, and the minimum capital required by law for a "S.L." is at least €3,000. Sweden has no equivalent of an LLC. The closest company form is the "handelsbolag" (lit.: "trade company"). The Swedish AB ("aktiebolag"; lit.: "share company"), like the "handelsbolag", is a tax subject and is more similar to a US C Corporation than an LLC. The minimum capital required by law in a private company, "privat aktiebolag", is SEK 50,000, although this may be in the form of