A limited liability partnership (LLP)is a variation on the partnership form of business.Which of the following is false?

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An LLP generally does not provide any special tax treatment, but rather is taxed like a general partnership where the income is allocated to the partners and reported on their personal income tax returns. The other statements are true: an LLP has limitations on partners' liability (A), the extent of the limitation may vary by province (B), it is typically limited to certain professional services (D), and it must include the words Limited Liability Partnership or LLP (E).

A Limited Liability Partnership (LLP)is a Variation on the Partnership