Would appreciate feedback on the following questions in context of a hypothetical LLP where the partners contribute capital towards investment in Capital markets.
1. Can the partners enter and exit the LLP at high frequency. (eg at a notice of less than 30 days)
2. if the partner exits the LLP, say within 6 months by withdrawing the contribution and share of profit, then what is the tax treatment?
3. what is the tax treatment to the LLP. Is the LLP taxed and the partners not taxed or is the LLP not taxed and partners taxed? (how does this impact 2)
4. do the Big 4 work on setting up of and administering of an LLP? Which other firms offer these services.
Would much appreciate feedback on the above issues.
thanks in advance
shashank.kothi @ gmail.com