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Hold a LLC in a Limited Partnership
We (Canadian and US partner) are buying rental property in US. We formed an LLC, but it will result in double taxes, since LLC, LLP, LLLP are not considered partnership in Canada.
Is it ok to transfer the ownership of this LLC to a Limited/General partnership. Are there any issues to be aware of, besides additional paperwork.
Final structure would look like: Partners --> LP --> LLC --> property.