Limited Liability Corporation

[Willbetravlin]

I've heard of people setting up an LLC to own an RV. Anyone with experience with this. Difficulty? Cost? Pros? Cons?, etc.

[Char & Steve]

This might be more for the registration purpose. I was going to transfer our previous MH registration to a Montana registration and had been in touch with an attorney there. To do so I had set up an LLC in the state and his office was my physical business address. After the initial set up not much paperwork was involved since the company made no money.This was being done on my end for town property tax reasons at the time but all those plans changed and now in our RW.

BUT... as you know if an accident happens and your fault, they go after your insurance to the max limit but these days even with an established LLC they will find away around it and back to you personally as the owner. Might take a little longer but will still get you.

Steve

[mhs4771]

Some folks were setting up LLCs to avoid paying Sales Tax on the purchase of an RV, but many states caught on and we going after them for the Sales Tax. At least that's my understanding from other forums.

[atom ant]

Just be careful with the Law - the Montana LLC attorneys are only obligated to tell what the law is in Montana and it is a hard sell. In reality, if you are not full timing, you have no real basis to support registering your vehicle to an LLC other than tax evasion. Full timers have different circumstances, but it is still complicated legally.

We had to serve as a witness for the State to one of these trials, and the judgment's were merciless to most that were caught.

http://https://www.fmca.com/index.ph...es-tax-evaders

[Char & Steve]

Originally Posted by atom ant

Just be careful with the Law - the Montana LLC attorneys are only obligated to tell what the law is in Montana and it is a hard sell. In reality, if you are not full timing, you have no real basis to support registering your vehicle to an LLC other than tax evasion. Full timers have different circumstances, but it is still complicated legally.

We had to serve as a witness for the State to one of these trials, and the judgment's were merciless to most that were caught.

http://https://www.fmca.com/index.ph...es-tax-evaders

This is one of the reasons I abandoned the idea....Sounds good at first then you dig a little deeper!!!

Steve

[Grizzby]

Death and taxes...no real escape!