JALLEN4's post brings up a point I had never considered. Are those with the Montana LLCs who have loans claiming interest deductions on their income tax. If so are they doing it through the LLC or through their personal income tax return. If you can't deduct the interest it would be real hard to see how you would come out ahead as the interest, even on a shorter term loan, is a whole lot more than any state's sales tax.
Bumpyroad wrote: why is it that a lot of big corporations incorporate in Delaware?
bumpy
Delaware affords a corporation more flexibility in corporate governance. They are very friendly to corporations from a state law standpoint. It has absolutely nothing to do with this subject! There is no corporate income tax in Delaware for those incorporated in Delaware but who do not conduct business in Delaware. They do though have the ability to levy a Franchise tax on a corporation which is usually much higher than other states.
stouffer wrote: JALLEN4's post brings up a point I had never considered. Are those with the Montana LLCs who have loans claiming interest deductions on their income tax. If so are they doing it through the LLC or through their personal income tax return. If you can't deduct the interest it would be real hard to see how you would come out ahead as the interest, even on a shorter term loan, is a whole lot more than any state's sales tax.
But then again, I'm just asking.
I doubt it.
LLCs in Montana are primarily used to lessen the MH's initial sales tax on purchase price, and, to lessen the ongoing annual licensing fees of many individual states.
I don't think anyone is suggesting needing to do anything but comply with the individual state laws which they are under.
I'm certainly 100% in compliance under my jurisdictions.
stouffer wrote: JALLEN4's post brings up a point I had never considered. Are those with the Montana LLCs who have loans claiming interest deductions on their income tax. If so are they doing it through the LLC or through their personal income tax return. If you can't deduct the interest it would be real hard to see how you would come out ahead as the interest, even on a shorter term loan, is a whole lot more than any state's sales tax.
But then again, I'm just asking.
I doubt it.
LLCs in Montana are primarily used to lessen the MH's initial sales tax on purchase price, and, to lessen the ongoing annual licensing fees of many individual states.
I don't think anyone is suggesting needing to do anything but comply with the individual state laws which they are under.
I'm certainly 100% in compliance under my jurisdictions.
My point is this. To deduct interest expense, which you could, the LLC would have to file a tax return. This tax return, coupled with your tax return, would establish both your State of residence, if different than Montana, and the single purpose of the LLC. It would seem to me to leave a prima facie case for the State with access to this return.
msmith1199 wrote: You're Arizona case is mixing apples and oranges. The facts of that case are completely different than what the OP described in this thread. You have far more protections in your own home than you do anyplace else. Any entry into your home by law enforcement must be done with a search warrant, with valid consent, or under one of the many exceptions to these rules. You can never have valid consent when there is coersion involved or any otype of threat of arrest.
Personal/private property is personal/private property. So, the principle is the same to me. Such an intrusion, interview, whatever, is not legal without probable cause, a warrant, or as you pointed out, consent. Yes, I have given testimony RE: a witnessed crime and RE: witnessed traffic accidents. But I will not freely participate in violating someone's civil rights, including my own.
As to the OP's original point, we personally would not use a Montana vehicle registration of any type, unless our residence was in Montana. Hey, NM has reasonable RV registration rates plus plenty of nice real estate to purchase . . . I'd even sell my house to help out.
As long as you realize your personal opinion is in complete contradiction to actual law, then you're fine. You can think the principal is the same all you want, but ALL of the courts of this land do not agree with you.
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Bumpyroad wrote: why is it that a lot of big corporations incorporate in Delaware?
bumpy
Advantages:
Delaware's corporation laws are very progressive/inclined towards the interests of corporate entities.
Delaware's corporate laws allow a fairly high level of autonomy/privacy protection for officer/directors (of corps), and managers/members (of llc's).
Delaware's court system is also very progressive/inclined towards the interests of corporate entities. If a major lawsuit were to be brought against your corporation/llc, it is advantageous to be able to have the dispute tried in DE courts.
In the day to day business of these entities (financing deals/closings/mergers/etc), DE is a very easy state to make the necessary filings in. Also, when you need a good standing, or a certified copy of a document on file in DE, it can be obtained in a matter of hours (unlike some states, i.e. CA which takes about 7-10 days to get a copy of a business entity filing from the Secretary of State, California).
Disadvantage:
Franchise Tax Fees in the state of DE are based on the stock structure of the corporation and can be very hefty if the corporation has alot of stock issued and/or the par value of the stock is a dollar or more (this is issued stock, not the value of stock being held by the public as investments). For LLC's, it is not so bad, they simply file an annual franchise tax return every year and the filing fee is $25.00 along with a $200.00 franchise tax bill.
In this day and age, most of your huge businesses (i.e. McDonalds, Hewlett Packard, Conoco, etc.) are all DE entities, with the vast majority of them being an LLC Holding Company that ultimately owns/manages all of the other entities associated with the family of companies. This is all legal and the state of Delaware caters to this (I believe that about 80% of the state of Delawares annual budget (other than taxes on the state's population, i.e. sales tax, income tax, etc.) is raised by the Secretary of State, Delaware office.
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msmith1199 wrote: I've been a law enforcement officer in California for 25 years and I have seen it and it does happen. Military cars with out of state plates also come with military stickers in the windshield. Those are easy to spot.
Are military base stickers still required in CA? They're no longer required at our local bases.
The base stickers are not required by California law and never were. They are required by the military in order to drive the car on base. As far as I know all military bases still require them. I can't imagine they would have changed that, but somebody can educate me if I'm wrong.
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