Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
Corporate status of a Nova Scotia Unlimited Liability Company?
Position TAKEN:
Yes it is a "corporation" for purposes of the Act.
Reasons FOR POSITION TAKEN:
It was incorporated under the Nova Scotia Companies Act and thus meets the definition in section 248 of the Act.
940819
XXXXXXXXXX Jim Wilson
Attention: XXXXXXXXXX
June 27, 1994
Dear Sirs:
Re: Nova Scotia Unlimited Liability Company
This is in reply to your letter dated March 23, 1994, in which you requested our opinion regarding the tax status of an unlimited liability company incorporated under the Nova Scotia Companies Act.
An incorporated company created under the Nova Scotia Companies Act, notwithstanding that its shareholders have unlimited liability for the debts of the company, is a corporation within the meaning of section 248 of the Income Tax Act.
We trust this is the information you require.
Yours truly,
for Director
Reorganizations and Foreign Division
Rulings Directorate
Legislative and Intergovernmental
Affairs Branch
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