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Old 10-02-2007, 09:28 PM   #15
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Incorporating in Delaware does not reduce the tax you owe in any other state you do business in. It is not legal to form a business entity whose sole purpose is tax evasion. One need look no futher than the case of a Junction City RV dealer who conviced maney customers that it was legal to register thier RV's in Oregon to avoid sales tax in there state of residence. Those people broke the law in both states. Lots of good reasons to do business as an LLC, tax evasion isn't one of them.
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Old 10-03-2007, 01:29 AM   #16
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sharbra:
Dirk - I do have an LLC and have access to advice by an attorney, which I would recommend anyone with an LLC would use. There is no record in the RV of who owns the LLC. Only the name of the LLC. Our attorney advised using a name far removed from our own when we set up our LLC, so yes, a rental agreement would possibly be a feasible solution. Again, an attorney should be consulted in this matter. </div></BLOCKQUOTE>

However the whole purpose of all this wrangling is tax evasion. My old attourney and accountant put this by me and these words still ring in my ears. "The chances of getting caught are marginal compared to the potential for savings on the taxes. We will word it just right so even if you do get caught they won't be able to prove ownership."

They are people that I no longer do business with and their careful wording did not help the others when their records were siezed and the ownerships revealed. So much for promises an cleverly hiding from the tax authorities.
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Old 10-03-2007, 05:47 AM   #17
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The Oregon situation was different than a Montana LLC.

In Oregon the individual owned the vehicle and used a PO address for registration.

-Tom
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Old 10-03-2007, 06:00 AM   #18
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Dalsn1:
It is not legal to form a business entity whose sole purpose is tax evasion. </div></BLOCKQUOTE>

If it's tax evasion and illegal why isn't MT prosecuting??

A MT LLC is set up for tax avoidance, not tax evasion.

Claiming the interested paid on an RV loan as a second residence is tax avoidance.

Buying fuel in a low tax state and then driving one mile into a high fuel tax state is tax avoidance.

And, non-profit entities are setup for the sole purpose of tax avoidance and that avoidance is legal.

-Tom

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Old 10-03-2007, 01:54 PM   #19
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We are getting off topic. My advice is proceed with caution. Remember the lessson of the bullit proof tax shelters of the 80's highly recomened by the brokerage community.

P.S. Big difference between tax exempt and non profit. Most non profits are subject to federal tax and effective with 2007 all non profits are required to file.
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Old 05-22-2010, 08:56 PM   #20
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The only first person experience that we had with an LLC is when our lender said that they will not give a loan involving an LLC for legal reasons. That was good enough for us. Why risk getting into trouble? Joe
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