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Old 09-21-2013, 10:34 AM   #1
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New full timer ,sales tax issue

Ok, my situation is as follows. Presently ia resident, sold primary residence, purchased diesel pusher 3 weeks ago in ok., want to remain a resident of ia for time being however am considering forming a llc in Montana, I have title but have not registered motorhome yet. My main question is this, can I form a llc myself (am not a attorney) or do I have to have attorney in Montana do this for me? I have researched ia law and feel that we can comply with thier rules, such as the 90 rule. Has anyone done this them selves or could you recommend someone to help me on this. This has been quite a learning curve for me (full timing) but I am trying. Thanks in advance. Roger
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Old 09-21-2013, 12:44 PM   #2
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There have been many post regarding, LLC Montana residency or lack of. Please try the google search top right hand on the one page. You'll find page after page regarding this subject!
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Old 09-21-2013, 12:56 PM   #3
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Roger,

Be VERY careful! Many states are denying the Montana LLC to escape paying state taxes and are suing RVers for the taxes and big penalties. I chose to become a South Dakota resident using My Home Address, Inc as my mail forwarding service. They handled all my vehicle licensing before I could get up to SD. To me, paying 3% was worth it not to have to worry about getting a subpoena at some later date.

SD also has low insurance rates due to the smaller population. And they exempt full-timers from jury duty. Have you calculated the bottom line? You might find it cheaper?
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Old 09-21-2013, 12:56 PM   #4
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You aren't required to have an attorney do it, but that's probably by far the easiest way. There are attorneys who specialize in these LLCs and can get things done promptly while you are still stumbling through the maze.

But you said you want to retain IA residency for awhile, and that puts you in serious danger of a tax evasion charge by IA. I won't belabor you about that - it's your call - but if you and the motorhome are in IA, you are probably liable for taxes there.
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Old 09-21-2013, 12:59 PM   #5
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Old 09-21-2013, 06:04 PM   #6
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Hi Rog1965char,
Montana will be no problem. Iowa may be a problem. You need to thoroughly understand Iowa DMV and sales tax law. For me (and I do own LLCs) hire an attorney in Iowa and in Montana. The Iowa attorney will tell you in the first consultation visit all you want to know. My domicile is Florida. The law is simple to understand and comply with. Iowa may be different.
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Old 09-21-2013, 06:17 PM   #7
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Quote:
Originally Posted by okmunky View Post
Roger,

Be VERY careful! Many states are denying the Montana LLC to escape paying state taxes and are suing RVers for the taxes and big penalties. I chose to become a South Dakota resident using My Home Address, Inc as my mail forwarding service. They handled all my vehicle licensing before I could get up to SD. To me, paying 3% was worth it not to have to worry about getting a subpoena at some later date.

SD also has low insurance rates due to the smaller population. And they exempt full-timers from jury duty. Have you calculated the bottom line? You might find it cheaper?
Exactly what we did. Americas Mailbox handled our vehicle registrations remotely, then we flew in to Sioux Falls for one night and got our SD Driver Licenses.Yes, we had to pay 3% tax on the vehicles, but absolutely worth it for peace of mind. There is no way we would consider going the Montana LLC route, way too many pitfalls and uncertainties.
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Old 09-21-2013, 06:46 PM   #8
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A lot of Full time RVers, as posted above domicile either in South Dakota, Florida, or Texas. Just have to choose which is right for you.
Best of luck.
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Old 09-21-2013, 06:52 PM   #9
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A lot of Full time RVers, as posted above domicile either in South Dakota, Florida, or Texas. Just have to choose which is right for you.
Best of luck.
Scott
And SD has the lowest sales tax..3%, and honors the sales tax if you paid it in another state. tags run from about $75 for a 5 year old MC, to $150 for a new pickup and $475 for a coach as you see below. Every year, but no other personal property tax or state income tax. A good choice.
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Old 09-21-2013, 07:53 PM   #10
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Ok, my situation is as follows. Presently ia resident, sold primary residence, purchased diesel pusher 3 weeks ago in ok., want to remain a resident of ia for time being however am considering forming a llc in Montana, I have title but have not registered motorhome yet. My main question is this, can I form a llc myself (am not a attorney) or do I have to have attorney in Montana do this for me? I have researched ia law and feel that we can comply with thier rules, such as the 90 rule. Has anyone done this them selves or could you recommend someone to help me on this. This has been quite a learning curve for me (full timing) but I am trying. Thanks in advance. Roger

Roger,

It sounds like you have done a lot of your homework ahead of time. Make sure that you document your compliance with the Iowa rules. Failure to document your compliance can blow the whole thing, so be aware.

We have had clients ask us to either incorporate them or form LLC's for them. We are CPA's, not attorneys. As I tell my clients, saving $1,500 could cost you thousands. If your LLC formation is flawed in any fashion, it could be disallowed and this could be a very expensive problem.

There are a number of attorneys who specialize in the Montana LLC for RVers. Be aware that many will tell you your state's laws but will not represent you if, to paraphrase the old expression, the fertilizer hits the ventilator. It does sound like you have a good handle on your state's DMV laws, but again make sure you document compliance.

Ed
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