Changes Coming to Canadian Businesses Investing in U.S. LLPs and LLLPs

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March 21, 2017

The Canadian Revenue Agency (CRA) has clarified that U.S. limited liability partnerships (LLPs) and limited liability limited partnerships (LLLPs) will be considered corporations for Canadian tax purposes.

Issue:        LLP and LLLP structures may result in double tax
Solution:   Restructure or consider annual tax alternative
Timing:      VSH will collaborate with Canadian colleagues on an optimal solution in Summer 2017

For more detailed information about this change, including the transitional period, visit VSH's tax blog.