Community Forums

srrobe · 08-31-2015, 07:13 AM

Quote:

Originally Posted by daryl989mich

Let me try another question.....does anyone from Michigan have their coach in a LLC in another state? If so, what are the up and down sides of this arrangement!? Thanks for your imput..

Michigan has gotten wise to the LLC tatic. We have friends that Did the Montana LLC and are now facing huge fines and legal fees. I feel your pain with MI license fees.

brobox · 08-31-2015, 07:43 AM

If you contact one the the MT LLC attorneys that advertise in Motorhome magazine, they will email you the requirements to be legal in your state.

My last MH I met the qualifications fine and had the LLC for several years. My new MH I had some problems with and if I would have put it in the MT LLC, I would have given up the right to use the Florida Lemon Law. That was insurance I couldn't afford to give up and paid the sale taxes.

jeryan59 · 08-31-2015, 08:38 AM

Quote:

Originally Posted by wnytaxman

This discussion comes up every so often. First off anyone can set up an LLC. Contrary to what many folks think, an LLC is not necessarity a buiness, but rather an asset protection vehicle. It's purpose is to limit legal liability by creating a separate entity which limits liability to that entity.

Now, that being said, using an LLC to avoid taxes can be a tricky proposition. First you need to find out the residency laws of your state. If you can comply with the requirements of living in your particular state and owning an LLC in another state which owns your vehicle which may be garaged in your state, then you must determine if you can document that compliance. Remember that the burden of proof in taxation rests with the taxpayer, not the state. If you can't prove your compliance, then you are SOL (slightly out of luck, or words to that effect) and may owe the taxes, penalties, and interest.

In summary, find out your state's laws and determine your ability to document that compliance. Can you comply and can you document your compliance? If you can answer yes, then go for it. If you can't answer yes then save yourself money and time and aggravation and pay the taxes.

This is very good advice, find out Michigan's residency requirements. Do you intend on storing/garaging the vehicle in MI? Most States garaging is a big factor in the equation. Also be careful what you do with the vehicle in MI, try not to purchase fuel, services or maintenance in MI. There are ways to do it, but you must know the rules, document and comply. A quick call to an attorney who sets up the LLC's in the State you are looking at is a great starting point. Good luck in your investigation.

TimSullivan · 09-01-2015, 09:42 PM

[QUOTE=wa8yxm;2722946]

Second: Some fiction.... Once read a story where a Tax man was one of the characters.. Another character had special powers and when she shook his hand she got a flash of memory. (His) Him standing there admiring his nice new SS uniform. Seems lots of folks think the IRS (And state treasurey) is the SS.. (Again my feelings (and yours) do not matter here... but frankly... Well.. Please do not express your opinion).

What on earth are you babbling about? I can't make heads or tails of what you are saying. You should proofread your babbling before you press the Submit button.

OB-One · 09-01-2015, 11:45 PM

LLC's can work, but only in specific cases. Bennett Law firm in MT invented the Montana LLC as an asset protection instrument. They are probably your best source of info. Full timers have the best chance of having an LLC work for them. It can be very tricky or impossible for someone that isn't a full-timer.