Considering an LLC, looking for experiences
Hi we just purchased a used 40'Fleetwood Revolution from NC where it is now in storage. We live in MI and plan on bringing it home in late April, then we will be hitting the road full time in June. T...
Forum Discussion
Donna Jean wrote:way2roll wrote:
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?
Sales tax in TN is about 8.5% That's a lot to pay a state that you might not live in for a good year
You DO realize that you ONLY pay that "sales tax" ONCE? Right?
Same with your CURRENT STATE.
Instead of wading through all of that legal jungle with LLC, just register in your CURRENT STATE and just pay the blasted taxes you owe to your CURRENT STATE.
Treat it as if you have no plans to move, when you do move, you simply transfer tags to your new state, you will not need to pay sales taxes on it again. You might, depending on the state or local city/town have to pay a "property tax" depending on age but you are not going to evade that for the rest of your life even with a LLC, eventually it will cost more down the road.
Most states make that title/tags transfer a fairly easy process.
In the end it will be most likely cheaper than setting up and maintaining a LLC.
Besides, most states to counteract the out of state LLC loophole will require some proof that your "residency" or place of living is not in in that state.. Often will be limits on just how long you can be in your current state of MI without the need to transfer title to your current state.. Get caught (pulled over or turned in by a jealous neighbor) and you could potentially face fines..
I don't understand this whole thing of tax evasion, if everyone evaded taxes then the gov would not have money to dole out to maintain roads, infrastructure, ect..
