Nathan S. asked
A foreign partnership LP1 with foreign limited partners is investing in a US-based LLC1, which is buying real properties directly or indirectly. The questions are: 1) Are the foreign LPs in LP1 passive and not conducting any business/ECI in the US? Is the general partner managing LP1 conducting ECI in the US or can be classified as non-ECI? 2) Should LLC1 deduct NRA withholding of 30% for LP1 income? 3) Can the foreign LP1 submit a tax return form to obtain tax reclaim, or is it mandatory for each of its LPs to do that? 4) Can the LLC enter into a withholding agent agreement with the IRS and apply for a 1042-S form without requiring individual LPs to obtain SSN or TIN?
February 15th, 2023
Randy B. answered
1) All income from sources within the United States connected with the conduct of a trade or busines...
February 15th, 2023
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