Community Forums

jponyboyace · 05-02-2012, 02:51 PM

This is my first experiance with a LLC. which my dealer recommended. It sounded like a great idea as we have certainly paid our share of taxes I assure you. The LLC allows you to register your coach , and as you know there is a lot of tax...With the LLC you pay no tax....goood deal and is very much legal, however the question is insurance???..about a third higher seems the insurance companies treat you as a business????Some like Geico stat they have a button they apply that allows you to pay the same regualr rate?????...they too were toooo high...seems Formost gave a normal deal ....any story or advice????

LA-HODAG · 05-02-2012, 05:15 PM

I would not put the adjectives "very much" before the word "legal." Depending on which state you live in, it may be the opposite. Just sayin.

sgtjoe · 05-02-2012, 05:35 PM

Some States are taking a look at the LLC registrations. Check this out.

Colorado catches RV sales tax evaders

ottffss · 05-02-2012, 05:40 PM

Search this very forum for thousands of pages regarding "Montana llc"

This is a subject that is not to be taken lightly and it is not black and white. It works, doesn't work, nothing happened to me, but they guy down the street, and so on and so on. It all adds up to "it depends" on YOUR risk tolerance. READ before you leap. Read a lot. There are thousands of pages all over the internet about it.

JimM68 · 05-02-2012, 05:50 PM

I did it that way.

The local "revenuers" in Illinois had a copy of my sales contract before the ink was dry, sent to them by Florida. (where I bought the RV)
Tho the wheels of justice turn slowly, a few weeks ago I sent the state of illinois 6.25% of the difference between the tradein value and the purchase price. My moho now wears Illinois plates, and the Montana plates are stored away just cause I like em.

The revenuers are everywhere. They are connected. They know everything (they knew I brought my bus into cummins for service before I did, and how much it cost me!)
They even read these forums.

MaverickBBD · 05-03-2012, 06:19 AM

Doesn't LLC stand for Limited Liability Corporation? Why wouldn't insurance charge more if you are insuring a corporation regardless of size. As mentioned the IRS and many states are taking a dim view of this if used as a means to get around paying taxes. Good luck.

Steve N Sal · 05-03-2012, 06:25 AM

At one time an LLC seemed like the way to go but with states really looking into them I think these days I would pass. As far as insurance rates, I would expect to pay more for a corporation than an individual. JMHO

clubmed98 · 05-03-2012, 06:35 AM

There is no free lunch..LLC is a commercial entity so most insurance companies will put you in a commercial policy...And most states have some sort of law that say if resident of state and in state for 30 days veh needs that states plates...pay me now or maybe pay me later. As Clint Eastwood asked, "how lucky do you feel"?

**CLIFFTALL** · 05-03-2012, 06:56 AM

I remember when registering a boat in a Delaware Corp. was a popular way to avoid sales tax. That was until my State ( NY ) back charged the sales tax and penalties. They came into every Marina and got the owners info on all the boats there and sent each one a sales tax bill. The onus was placed on the owner to prove they paid sales tax. It was a real PITA for those of us who had done things legal and then had to prove it.

RustyJC · 05-03-2012, 07:07 AM

Offered without comment for your reading enjoyment - (Massachusetts) Investigation into Vehicle Registration Abuse

Rusty

JimM68 · 05-03-2012, 11:51 AM

I didn't have any problem with insurance, my local state farm agent was happy to write the policy.

No problem with financing either, destination financial and suntrust bank were happy to write the loan, with my signature as the sole member of the llc.

And i still believe my montana company has every right to buy an rv in florida, and this is none of illinois business...

But seeing as how they knew where the bus spent its winter, it's pretty hard to argue the 30 days part.

And when u get right down to it, i'd rather my hard earned money go to support our last two governors lifestyle in federal prison, than go to feed lawyerz. I hate lawyers...
Hmm, come to think of it, both those governors were lawyers. Heck with the state of that profession, they probably still are.

jponyboyace · 05-04-2012, 02:43 AM

wow goood points here as usual ......man will the car/rv dealers sell u anything to help make a deal....they even set up the LLC ....live and learn folks.....thanks to you all!!!

TerryO · 05-04-2012, 06:43 AM

Quote:

Originally Posted by JimM68

I didn't have any problem with insurance, my local state farm agent was happy to write the policy.

No problem with financing either, destination financial and suntrust bank were happy to write the loan, with my signature as the sole member of the llc.

And i still believe my montana company has every right to buy an rv in florida, and this is none of illinois business...

But seeing as how they knew where the bus spent its winter, it's pretty hard to argue the 30 days part.

And when u get right down to it, i'd rather my hard earned money go to support our last two governors lifestyle in federal prison, than go to feed lawyerz. I hate lawyers...
Hmm, come to think of it, both those governors were lawyers. Heck with the state of that profession, they probably still are.

Laws are made by Lawmakers who are Lawyers. Are we starting to see a connection here? :-(

avalancheMM · 05-04-2012, 01:08 PM

I'm in Canada, tax capital of the world, and we don't get taxed on RV's like it sounds the US does, that has to be a first, Americans paying taxes that Canadians don't. If I bought from a dealer, I would have to pay 5% sales tax, private deals have no applicable taxes. My license plates cost me the same for my 2003 Pace Arrow as my 2005 Trailblazer, about $80/year, and my insurance with full replacement coverage cost $816/ year. Mind you, I'm paying about $4.33 a gallon for regular fuel, and up to $4.75 a gallon for premium, a huge chunk of which are taxes, so maybe they just sneak it from me slowly hoping I won't notice, or just get apathetic enough to not complain about it anymore. Hmmm, your tax system is so much different than ours - I'm just curious.

Regards