judatt Report post Posted November 5, 2015 Greetings everyone. Thanks to your great input we have made some decisions. First, we have an appointment next Wednesday at a Cummins diesel shop to run our prospective motor home through all the diagnostics. It's $240 which seems very reasonable to me. Assuming that goes well we plan to buy the 2008 Newmar Mountain Aire. First decision, we are paying cash. That has something to do with the second decision which is to form a Montana LLC and have that entity buy the unit. We have been in contact with the Bennett Law Office and are getting that process going. We seriously considered just going with South Dakota but would have had to pay 4% tax which we won't with the LLC. Still looking for insurance but are narrowing that down as well.If anyone wants to throw us some cautions please feel free. Thanks again for all your good input so far. It's great when a community with common interests can come together. David Share this post Link to post Share on other sites
elkhartjim Report post Posted November 6, 2015 I would be cautious broadcasting the fact you're going the LLC route. Several states are actively pursuing the lose of tax dollars and from what I've heard, the fines, interest and penalties will make the amount saved in sales tax insignificant. I assume you've checked with your state and meet their requirements for avoiding (or evading) paying their sales tax. Since you still own real property (your home/homestead) in you resident state, thats a huge red flag. Good luck, I would probably hate to check my mailbox afraid of that bill that may show up any day. Share this post Link to post Share on other sites
judatt Report post Posted November 6, 2015 I would be cautious broadcasting the fact you're going the LLC route. Several states are actively pursuing the lose of tax dollars and from what I've heard, the fines, interest and penalties will make the amount saved in sales tax insignificant. I assume you've checked with your state and meet their requirements for avoiding (or evading) paying their sales tax. Since you still own real property (your home/homestead) in you resident state, thats a huge red flag. Good luck, I would probably hate to check my mailbox afraid of that bill that may show up any day. If we were keeping our house I wouldn't even consider an LLC. We already have a buyer for our house and the LLC will purchase the MH once we consummate the transaction. We have no other ties to Virginia and will be full timing. There is a big difference between avoiding taxes and evading taxes. One is a smart way to preserve your resources. The other is illegal, unethical and just wrong. I'd never evade taxes but my career as a CPA is all about minimizing taxes in every possible legal way for not just me but clients as well. Share this post Link to post Share on other sites
campcop Report post Posted November 11, 2015 I have read that some have had a problem getting insurance for a MH owned by a LLC and full time....have you secured a company? Share this post Link to post Share on other sites
kingfr Report post Posted November 11, 2015 I have read that some have had a problem getting insurance for a MH owned by a LLC and full time....have you secured a company? This is not a problem to Twin Peaks Insurance. 800-507-8467 Share this post Link to post Share on other sites
judatt Report post Posted November 12, 2015 I have read that some have had a problem getting insurance for a MH owned by a LLC and full time....have you secured a company? We have several quotes - all higher than I thought they would be but a couple are better than the others ($2500 + range). A couple of others are outrageous ($6000 range). Still have a few more to come in. Share this post Link to post Share on other sites
jleamont Report post Posted November 12, 2015 We have several quotes - all higher than I thought they would be but a couple are better than the others ($2500 + range). A couple of others are outrageous ($6000 range). Still have a few more to come in. David, If the business name is on the registration card be sure to obtain a US DOT number and put it on the coach, its now a Commercial Motor vehicle and must follow all of the federal regulations based off of the GVWR of your coach, if its over 26,001 lbs its going to be a huge pain. I was going to do this a few years ago when I owned a small business, after speaking to a Federal Agent (at work performing a US DOT inspection) he advised me I was going to open a big mess I wanted no parts of. If its used for personel use and registered as such its just a motorhome. If used for commercial and registered in a company name its a CVM and is required to follow all regulations, driver licensing (CDL over 26,001 lbs GVWR), US DOT number on the sides, co name, address, driver to carry medical card and it just goes on and on. What type of business do you own or were you thinking about purchasing..just curious? Share this post Link to post Share on other sites
