USA

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General Information

The Structure of the LLC
The Limited Liability Company is a hybrid of the corporation and the partnership, drawing on the benefits of both of these structures. The reason for its increased popularity among business owners is that the LLC combines the corporation style, with the partnership style flexibility. This means that taxation on the company profits and losses by-pass the company and are instead taxed only once, at the personal income tax level of the partners, or members, as they are referred to in an LLC.
Unlike a corporation, there is no double taxation in an LLC. This makes it possible for foreign members and entities to avoid taxation via the US LLC that is, they are not obligated to file personal federal or state income tax when following the correct procedures for tax-exempt qualification.

Reporting and Statutory Requirements
The LLC laws in most states do not impose extensive filing and reporting requirements. Often, the only time an LLC must make information public is when the Articles of Organisation are filed, and even then, no financial information needs to be disclosed.The lack of filing and reporting requirements makes an LLC a confidential entity. Investors or business owners who prefer to keep their interest in the business confidential may easily do so.

Tax Regime
There are two main types of income tax collection in the US. One is at the federal level, all companies without exception are liable to this tax, and the other is at the state level. The State has the power to set the level of this state tax. The state tax for Delaware, Washington and New York is set at zero, thus creating significant tax advantages for American companies registered here.Companies belonging to non-residents, not having any activities on US territory do not pay state tax, and by virtue of being non-resident, fall outside the scope of federal tax legislation. They are not taxpayers in the US and pay no tax

Characteristics of the American Limited Liability Companies
 

Trading Restriction
 All Limited Liability Companies are prohibited in Trading in the fields of banking or insurance.