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
Effy wrote:wnytaxman wrote:
As to any perceived moral issue I don't think there are very many of us that intentionally pay more in taxes than we owe. Your interest on your RV is deductible so do you not take it so that you can pay more in taxes than you owe? I don't think there are too many RV owners who would do this, if there are any!
That's not the point and a bit of apples to oranges. The interest deduction is intended for just that and does not require an LLC. An LLC in a state you do not live in, is not intended to sheler you from taxes on a state you do live in under the guise of a business you don't really operate. It's abused for that. You don't see the IRS sending notices to folks who take an interest deduction on a MH or second home. You do see them questioning opening LLC's for tax shelters. It's a little different.
But lots of businesses take advantages of the best tax states for registering vehicles. For example I think if you own a ship and you want a US flag on it you register it in Delaware even though the ship may never go to Delaware. Some of the biggest cruise companies are American companies, yet their ships are registered in other Countries who have more favorable tax laws.
