1. Amway is a global leader in the $102-billion direct selling industry. More than three million Amway Business Owners operate independent businesses in more than 80 countries and territories around the world.
A single-member limited liability company, as a solely owned LLC is called, gives the owner a choice of how to be taxed -- as a sole proprietorship, an S corporation or a C corporation.The legal structure of the business itself doesnât change with any of the choices.nder an S corporation classification, a single-member LLC needs to have a large enough profit in excess of the ownerâs salary to realize any tax savings on passive income.
A: An S Corporation is a small corporation that elects to be taxed under Subchapter S of the Internal Revenue Code, which gives an electing corporation some, but not all, of the tax benefits of a partnership. An LLC can also make this election, enabling it to take advantage of the payroll tax savings discussed below.