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
Imperial Tobacco Company of Canada Ltd. and J. E. Dussault, turned the concern into the limited company B. Houde & Co. Ltee. in 1903. In 1908, B. Houde was absorbed by American Tobacco Ltd., the Canadian arm of the United States cigarette monopoly the American Tobacco Co., at the time that American Tobacco merged with Empire Tobacco Co. Ltd. in 1908 to form the Imperial Tobacco Company of Canada. Imperial Tobacco still operates under its 1912 Dominion charter. George E. Tuckett began making cigars and plug tobacco in Hamilton, Ontario in the years before Confederation. Elected to the Hamilton City Council in 1864, at the age