Canada Revenue Agency (CRA) has unexpectedly concluded that U.S. limited liability Partnerships (LLPs) and limited liability partnerships (LLLPs) share more of a likeness with Canadian Corporations than they do with Canadian Partnerships. Thus the tax implications for these entities have shifted and financial strategies for Canadian investors with a stake in such partnerships much change.
Infographic: The limits Of "Limited Liability"The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.