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 > Considering an LLC, looking for experiences

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Donna Jean

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Posted: 11/17/20 04:56pm Link  |  Print  |  Notify Moderator

thanks for your responses but we are getting off track, I am not looking for suggestions on where to set up a domicile. We will be doing that in TN they have no state income tax, we have family there and we will be moving there within about 6-12 months after we start traveling. The question is about MT LLCs I was hoping that I might be able to connect with some others that have an LLC for their RV and what they thought of it.

Tyler0215

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Posted: 11/17/20 05:13pm Link  |  Print  |  Notify Moderator

Well then license it in TN. and be done with it.

CA Traveler

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Posted: 11/17/20 05:36pm Link  |  Print  |  Notify Moderator

$275 + $1000+ LLC cost + $800 if applicable. Then you need vehicle insurance as a non resident, more limited of course? + $800 if appicable?

Plus you will be a resident of TN. Does TN allow registration in MT or some other state or you pay TN? Will you have an obligation of some level of sales tax in TN regardless of where you buy the RV.

Are you sure?

* This post was last edited 11/17/20 05:58pm by CA Traveler *   View edit history


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Bob


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Posted: 11/17/20 05:52pm Link  |  Print  |  Notify Moderator

Recommend you dig deep into state laws, taxes, etc of an out of state registration. You don't want fees and penalities 1+ years later.

Old-Biscuit

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Posted: 11/17/20 06:35pm Link  |  Print  |  Notify Moderator

Contact Bennett Law in Missoula.
They are in the business of LLC


Check out TN registration vs Montana LLC with them


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mowermech

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Posted: 11/18/20 06:31am Link  |  Print  |  Notify Moderator

Why do you want a Limited Liability Company?
Come to Montana. Find a UPS Store in a town that you like. Rent a PMB (personal Mail Box). You now have a Montana address, and the UPS store will forward any mail to you at whatever address you tell them.
Register your RV using that mailing address. If it is 11 years old or older, you can get PERMANENT license plates for it. If it is a trailer, the PERMANENT plate is automatic, regardless of age, type, or size.
You should get a Montana driver's license.
If you find that a physical address is required, buy a lot somewhere in the country so that you can say that your address is 1501 Bumdiddly Road, Sometown, MT 59xxx.
However, you will likely find yourselves liable for paying MT income taxes, and filing a tax return every year.
But, you will not have to pay any fees to a firm of lawyers!


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way2roll

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Posted: 11/18/20 06:38am Link  |  Print  |  Notify Moderator

If you know you will set up domicile in TN after your FT adventures and you have family there now, what are you looking to get out of the MT LLC? Is it to lower your tax liability?


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Posted: 11/18/20 07:06am Link  |  Print  |  Notify Moderator

Donna Jean wrote:

i should have added that eventually we will buying a home in TN, we do not know how long we will full time in the RV. So i don't think we want to set up a residency somewhere else. I am also trying to find out if we decide at a later date like say 18 months from now if we want a TN plate do we have to pay tax again or some type of large fee. Someone told me that GA charges a pretty hefty sales tax if you move there with an RV. I have been searching all the sites i can find on TN but i can't get an answer


Talk to a good tax guy to make sure everything is legitimate and there isn't a hidden catch.

It you keep the Michigan Residency/Domicile (or what ever legal terminology is correct), they may come asking for Use Tax if they catch on and everything isn't set up correctly.

Probably a lot easier to just change residency for a low tax state so you don't have to mess around with an LLC.


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pitch

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Posted: 11/18/20 07:21am Link  |  Print  |  Notify Moderator

How about you being honest upright citizen and PAY YOUR FRIGGEN TAXES!!!!

way2roll

Wilmington NC

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Posted: 11/18/20 07:30am Link  |  Print  |  Notify Moderator

pitch wrote:

How about you being honest upright citizen and PAY YOUR FRIGGEN TAXES!!!!


While I personally don't agree with MT LLC's and the like, there is nothing legally wrong with them provided they are set up properly and follow the law. There are lots of totally legal advantages to lessen one's tax burdens that people leverage every day. Don't confuse moral or ethical opinions from legal facts.

To the OP, while it's perfectly fine to ask for advice here on a forum, it's always best to consult certified professionals that do this sort of thing for a living. I'd read an article a few years ago that there was a crackdown on MT LLC's and some of the leads had come from the state monitoring forums just like this one.

My biggest personal complaint is in the obvious questions, why is an individual consumer starting an LLC to own an RV with no real business? An LLC is a limited liability company. Is the RV used for actual company purposes? Is there a legitimate business? These questions are rhetorical of course. The reason is that it's a shell company set up for the sole purpose of limiting one's tax liability. It's a loophole, and while possibly legal if set up right, the ethical side of this is that you evade your tax burden.

* This post was edited 11/18/20 07:45am by way2roll *

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