Montana LLC
Can someone who has set up a Montana LLC recommend a law firm that they would recommend? Thanks.
Forum Discussion
Whenever the discussion comes to the Montana LLC there are always those that say that it is immoral or unethical and those that say it is legal and, therefore, totally within the realm of morality and ethics. We have used the argument that most all of us will use the law to our benefit and we take those deductions that the law allows us. I know of no one who sends in their income taxes with an extra $100 or so to help cover the cost of parks or roads or education or whatever else you may desire yet many are criticized for using something that is legal to reduce their own tax burden.
When I bought my rig I looked at the laws of NY and said that I can't comply so I didn't do it. If I had felt that I could comply and that I could prove my compliance then I might have gone that route. Would that be immoral? I don't think that it would be because I have complied with the laws of my state. There is nothing that forces anyone to use the Montana LLC just like there is nothing that forces anyone to drive 75 in a 65.
What is your comfort level? Are you comfortable using this method? Perhaps one of the most important considerations is if you are challenged how much are you willing to spend to justify your position? I have one residency audit going on right now that is in its third year. The audits are so ludicrous that the state is saying that any day my client doesn't have a charge on his credit card from his home state of Florida is a day he was a NY resident. Residency audits are tough and the burden of proof is on the taxpayer so it can be a situation where you are right but proving it can be costly. Is that worth the risk? All of these are personal decisions and it's up to the individual to decide.
When I bought my rig I looked at the laws of NY and said that I can't comply so I didn't do it. If I had felt that I could comply and that I could prove my compliance then I might have gone that route. Would that be immoral? I don't think that it would be because I have complied with the laws of my state. There is nothing that forces anyone to use the Montana LLC just like there is nothing that forces anyone to drive 75 in a 65.
What is your comfort level? Are you comfortable using this method? Perhaps one of the most important considerations is if you are challenged how much are you willing to spend to justify your position? I have one residency audit going on right now that is in its third year. The audits are so ludicrous that the state is saying that any day my client doesn't have a charge on his credit card from his home state of Florida is a day he was a NY resident. Residency audits are tough and the burden of proof is on the taxpayer so it can be a situation where you are right but proving it can be costly. Is that worth the risk? All of these are personal decisions and it's up to the individual to decide.
