Montana LLC Re-Visited
Hi guys, I recently spoke to someone who became a full timer and the conversation was interesting. He told me that he sold his home in New York and set up a Montana LLC. He then purchased a new MH...
Forum Discussion
Allow me to play the devils advocate here...
First of all the gentleman in question was not bragging or boasting he was just saying from one business man to another what worked for him. He came across as an engaging, friendly guy trying to help someone thinking about the full-time life!
I know that Florida, South Dakota and Texas are good for full-timers and the question is why? The answer is because of lower and better tax laws and they are “full-Timer” friendly states. So what these three states offer are more desirable than some of the more unfriendly tax states like California, Illinois and New York just to mention a few. As for Federal implications there is non, this is all based on each given state.
Now we have the state of Montana where you can get an LLC in a no tax state. A state where you can register a car, truck, RV etc with no tax implication and it is, at least at this posting 100% legal. And what he told me about Florida is also true, if you purchased a vehicle out of state and bring it into Florida 6 months later, you do not pay Florida tax on that vehicle regardless if you purchased it from a tax or no tax state.
I personally would not go with an LLC because of my bank and insurance company. So why should there be personal and/or moral outrage from a process that is just as legal as someone choosing South Dakota, Texas or Florida as their full-timer home?
Ok, thats the opinion of the “devils advocate” so bring on the loathing and gnashing of teeth! :)
Oh and "Willald" I find you a man of great wisdom, maybe thats because I sneak over the line for gas myself!!! :) :) You devil you...
Harry
First of all the gentleman in question was not bragging or boasting he was just saying from one business man to another what worked for him. He came across as an engaging, friendly guy trying to help someone thinking about the full-time life!
I know that Florida, South Dakota and Texas are good for full-timers and the question is why? The answer is because of lower and better tax laws and they are “full-Timer” friendly states. So what these three states offer are more desirable than some of the more unfriendly tax states like California, Illinois and New York just to mention a few. As for Federal implications there is non, this is all based on each given state.
Now we have the state of Montana where you can get an LLC in a no tax state. A state where you can register a car, truck, RV etc with no tax implication and it is, at least at this posting 100% legal. And what he told me about Florida is also true, if you purchased a vehicle out of state and bring it into Florida 6 months later, you do not pay Florida tax on that vehicle regardless if you purchased it from a tax or no tax state.
I personally would not go with an LLC because of my bank and insurance company. So why should there be personal and/or moral outrage from a process that is just as legal as someone choosing South Dakota, Texas or Florida as their full-timer home?
Ok, thats the opinion of the “devils advocate” so bring on the loathing and gnashing of teeth! :)
Oh and "Willald" I find you a man of great wisdom, maybe thats because I sneak over the line for gas myself!!! :) :) You devil you...
Harry
