Forum Discussion

Explorer

Oct 20, 2015

considering Florida residence with Montana llc

So we're all getting ready to go full timing in the spring trying to figure out the best way obviously to save the taxes on the purchase and save on income taxes going forward. So I think we whittled down our choice of state for residency as Florida but we are considering the Montana LLC to make the purchase. I have been reading a lot on here and other places about the ups and downs of the Montana LLC. I am trying to find any specific knowledge of anybody who is a Florida resident with a Montana Llc and how Florida handles that. And if anyone knows if Florida might be one of those states that would crack down on that. Is there anybody on here who has Florida as their state of domicile and has their RV in a Montana Llc. Our current state is Virginia and we are going to be selling our property here but we will still own several rental properties. I don't think that that would be an issue because I believe you can still own property in the state if its not your rresidence and be a resident of another state? Also on the Florida domicile as far as the DMV and taxes registering an RV do you get charged annual property taxes on your RV there? Or any other annual taxes or fees associated with the rv if we decided to register in Florida rather than the llc. in Virginia there is a hefty annual property tax bill. Would appreciate any help and I'm sorry if I am duplicating many previous questions. Thank you so much for your help

Seeking Advice

83 Replies

The_Texan
Explorer
Oct 20, 2015
Do NOT just look at basic "income tax" as the criteria for your residence, look at the complete tax picture for the states you are checking out. Florida has no income tax, but unless they have changed their overall tax basis recently, you will get raked over the coals if you have any investments and income other than basic retirement type. We actually moved from Florida to a state with an income tax and out tax liability decreased.
JAXFL
Explorer
Oct 20, 2015
I think your problem is going to the 3 state violation. In Florida you have 30 days to register your vehicles and get your drivers license. Your insurance company is going to want your FLORIDA address to insure the RV, and so you can't have the Montana LLC. Also in most states if you get pulled over and have a license plate from one state and a drivers license from another that can cause a problem also. Florida sales tax is 7% but there is not state/county/city income taxes. JMHO.
2oldman
Explorer II
Oct 20, 2015
You need professional advice from your LLC attorney, no matter who says what on here. And use paragraphs.