Licensing vehicle and trailer under a Montana LLC

[jimmyjnr]

I am resident in CO but own 12 acres in TN , any advice ?

[Dave and Lynn]

Yes, people do this all of the time and save themselves some money. However, the States are catching onto the fact that they are losing a ton of revenue. CO may be the only state right now out to prosecute people who do not follow the law. You can bet though that the other States are taking notice and won't be too far behind.

It is fraud to not pay your taxes in the state where you reside. It is a lie and I know personally it would ruin my trips with the thoughts of guilt and wondering if my nosy neighbor is about to turn me in.

I know we are living in financially challenging times, but if you can't afford the taxes on the vehicles you are buying, maybe you shouldn't be buying it.

[cleverlemur]

What does Google pay in taxes on billions of dollars in income? In 2007, 2.4 percent. What did GE pay in income tax on 14.2 billion in profits last year? It claimed a tax benefit of $3.2 billion. Here we have two examples of corporations, which have the legal status of persons, using legal tax avoidance strategies for the betterment of their shareholders and, in both cases, with the blessings of the IRS. The use of an LLC to manage movable property is one way individual taxpayers, can attain something like corporate personhood to likewise use legal tax avoidance strategies. There is nothing illegal about basing movable property in Montana. The issue, as far as state revenue departments are concerned, is based solely on where the vehicle is domiciled. Using a Montana LLC to purchase an RV and storing your vehicle in Montana when you're not on the road is safe and legal. Consult your local state regulations to see how many days per year you can safely use your RV in your home state.

[vesteroid]

Originally Posted by Route 66

Insurance and financing is not a problem with LLC's. Not all insurance nor all financial firms will insure/finance LLC's but many will.

The RV is not considered a commercial vehicle.

There is more misinformation than truth about LLC's out there.

CONTACT a Montana attorney for details.

Bennett Law Firm with tell you the truth.

I am somewhat curious about this fact. I have no experience with Montana, but do own a business and all he partners have vehicles and as they are owned by the company, they all require commercial insurance. It is more expensive than my personal insurance, but as the title has my company name on it, my personal insurer Geico would not take it (under my personal).

Just wondering how you get around that.

[cleverlemur]

Originally Posted by Route 66

...
When I had my LLC I found several insurance companies that would would insure my MH. I had National Interstate insurance and both my name and my LLC's name were listed on the insurance.

Tens of thousands of RV owners do this, so it's not unusual or rare.

Twin Peaks Insurance in Florida insures LLCS and has been specializing in RV insurance for 20 years. They really have it down.

[Capt EL CJ]

Originally Posted by cleverlemur

What does Google pay in taxes on billions of dollars in income? In 2007, 2.4 percent. What did GE pay in income tax on 14.2 billion in profits last year? It claimed a tax benefit of $3.2 billion. Here we have two examples of corporations, which have the legal status of persons, using legal tax avoidance strategies for the betterment of their shareholders and, in both cases, with the blessings of the IRS. The use of an LLC to manage movable property is one way individual taxpayers, can attain something like corporate personhood to likewise use legal tax avoidance strategies. There is nothing illegal about basing movable property in Montana. The issue, as far as state revenue departments are concerned, is based solely on where the vehicle is domiciled. Using a Montana LLC to purchase an RV and storing your vehicle in Montana when you're not on the road is safe and legal. Consult your local state regulations to see how many days per year you can safely use your RV in your home state.

When any state says I can have my RV in the state for just so many days that is when we all need to revolt..