LLC, or Limited Liability Company, and GmbH, or Gesellschaft mit beschränkter Haftung, are both types of legal business structures that offer limited liability protection to the owners. One key difference between LLCs and GmbHs is the country in which they are formed. LLCs are a type of business structure commonly used in the United States, while GmbHs are a type of business structure commonly used in Austria and Germany. Another key difference between LLCs and GmbHs is the way in which they are owned and managed. LLCs can be owned by one or more individuals or entities, and the management of an LLC can be structured in a variety of ways, such as through a board of directors or through the owners themselves. GmbHs, on the other hand, must have at least one managing director and can also have one or more authorized representatives. The managing director is responsible for the day-to-day management of the GmbH, while the authorized representatives are responsible for representing the GmbH in legal matters. In terms of taxes, LLCs and GmbHs are treated differently in their respective countries. In the United States, LLCs can be taxed as a sole proprietorship, partnership, or corporation, depending on the number of owners and the specific tax election made by the LLC. In Austria, GmbHs are subject to corporate income tax at a rate of 25%. In summary, LLCs and GmbHs are both types of business structures that offer limited liability protection to the owners, but they differ in the country in which they are formed and the way in which they are owned and managed. They also have different tax implications in their respective countries.