Montana LLC RV Financing ISO Bank

[MotorPro]

When these Montana lawyers tell you it's completely legal ask them a simple question ....... Will they sign a contract that if a state comes after you they will pay the fines?......there reaction should tell you everything you need to know.

[wnytaxman]

Originally Posted by MotorPro

When these Montana lawyers tell you it's completely legal ask them a simple question ....... Will they sign a contract that if a state comes after you they will pay the fines?......there reaction should tell you everything you need to know.

One of my clients got talked into the Montana LLC and he got nailed by NYS. When he contacted the law firm in Missoula they told him they were not licensed to practice in NY and he was on his own.

Before I bought my Entegra I called the major player in the Montana LLC game. They told me that there would be no problem having a Montana LLC and being a resident of NY. So I checked the law. They were about as wrong as anyone could be. The only way it would be legal is if I NEVER brought the rig into NY.

[MarylandRich]

I bought my coach from a guy who did the MT LLC thing. I had to finance a portion of my purchase. The check from USAA had to be made out to the owner (the LLC) that was made up (not a for profit or anything else LLC)to avoid his home state tax. He told me I would need to figure out some other financing, I said sorry this is what I have. Eventually he was able to set up a bank account in the LLC name, but I believe he was not able to withdraw the entire amount for a number of months (so he told me). My point is this thing can rear it’s ugly head in ways you are not thinking about now. It almost lost him the sale of the RV.

[Stevemarshia]

Good luck with that. We searched for months to do this very thing and finally give up. We did get our price down from a sticker price of 134,400 down to 88,900. Based in NC taxes weren't as bad as we thought. Getting a loan for a full-timer was the other thing we had problems with. Bank of the West helped us out with that. Good luck

[StageCoachDr]

Finance and buy it using your personal credit, then sell it to you business for $1.

[Sky_Boss]

The OP appears to have abandoned this topic. Wonder if s/he got the RV?

[ThePowells]

Originally Posted by Sky_Boss

The OP appears to have abandoned this topic. Wonder if s/he got the RV?

[b17drvr]

https://www.tn.gov/revenue/news/2017...x-evasion.html

[kerrvillepil]

Talk to your LLC. They usually can refer banks. I’ve used Incredible Bank & Bank OZK. Be sure you follow the laws of your state of residence, if you are full timers Montana is a great state (for tax reasons) for residency. If you are part timers, be careful & know the law.

[FatChance]

The two best ways to deal with a Montana LLC is to either pay a good attorney in your home state to verify your situation and consider your risk tolerance or go full-time and establish your domicile in a state that is comfortable with Montana LLCs. Otherwise, you are flying on a wing and a prayer.

[DavidH2]

Originally Posted by RickNC

Calling it "avoidance " is BS. If you are paying taxes in another state to avoid paying them in the state you live in. That is evasion or in my book stealing. You are sticking other citizens in your state with making up your share of the taxes you are not paying. If Montana has better taxes for you, move there!

Rick you might want to research how many of the NC based corporations you can list are actually Delaware registered Corporations. Why, because of taxes and regulations. The federal and state laws are quite complicated, but many loopholes exist. Ask Apple why they offshore so much revenue. Some US based companies are registered in Bermuda, legally , or even Ireland. For TAX reasons.
High profile companies that have researched and discovered tax AVOIDANCE options. Smart businessmen. If the law allows it, why shouldn't they do it?

[ThePowells]

Originally Posted by b17drvr

https://www.tn.gov/revenue/news/2017...x-evasion.html

They went criminal? They must have been sending a message.


P.S. Guilty plea.. https://www.tn.gov/revenue/news/2018...ntana-llc.html


I wonder how much his LLC attorney paid towards his defense or if got admitted to the TN Bar and defended him himself. I bet GRIFFIN heard something like, "yeah, It's great, the waters fine, come right on in"....

[captaindc10]

Another problem you will run into is that some manufacturers will void your warranty after 90 days (Thor) because they allegedly do not warranty a new RV registered to a "business." They claim that since they do not know how the "business" will use the RV, they stop the warranty at 90 days. P.S. "They" will make exceptions if you ask them to contact your attorney with that information.

[Bob-A-Long]

Originally Posted by RickNC

I have used “Mountain America Credit Union “ out of Phoenix,Arizona with a LLC,to purchase a motorrhome, no issues easy loan processing.