Anonymous
Not applicable

Business & farm

is your nationality Canadian?   a USLP means a United States Limited Partnership (LP).  for there to be a LP there must be at least two legal owners.  You say you are the sole owner  - not allowed.  an LP will have a general partner (many times a corporation) and one or more limited partners.

 

you need professional advice because transferring the ownership in the LLC to the LP can have tax consequences. we can not answer as to any tax laws that would apply in Canada. from A US tax standpoint there may be some sort of taxation because ownership was transferred from you to a corporation.    Further, have you inquired of the LLC owning the real estate if the transfer of ownership is permitted?   

 

if you are Canadian you should see this article 

https://www.advisor.ca/investments/alternative-investments/llc-spells-trouble-for-canadians-who-own-...