Hi Everyone. Well, after 15 years the RV-Dreams Community Forum is coming to an end. Since it began in August 2005, we've had 58 Million page views, 124,000 posts, and we've spent about $15,000 to keep this valuable resource for RVers free and open. But since we are now off the road and have settled down for the next chapter of our lives, we are taking the Forum down effective June 30, 2021. It has been a tough decision, but it is now time.
We want to thank all of our members for their participation and input over the years, and we want to especially thank those that have acted as Moderators for us during our amazing journey living and traveling in our RV and growing the RV-Dreams Family. We will be forever proud to have been founders of this Forum and to have been supported by such a wonderful community. Thank you all!!
I was casually talking with a dealer today and mentioned that once the DW retires I'd be setting us up as an LLC maybe thru Montana. He said that he'd had several deals fall thru once the finance company found out the buyer was setup as an LLC. Has anyone had/heard of this being an issue. I'm looking at maybe financeing thru ESSEX which is now owned by COSTCO.
The lawyer for one of the groups that set up LLC's told me that the vehicles would have to be registered and titled in the corporation name. My credit union would not allow me to take a regular loan but insisted that it had to be considered a business loan because of the above. I didn't research it any further so that's all I know.
There are several states that are going after residents that have done the LLC route. They are considering it a form of tax evasion, because the corporate tax level was less than personal. But the vehicles were/are being used for personal use.
Be prepared to transfer every thing you do to Montana if you go the LLC route.Go to the main page here and look up "we've made the decision, now what" Howard who is an Attorney did a very good job of laying out the whole Montana LLC deal. As stated above if you are only doing it to save sales tax on buying a motor home and not truly operating a legitimate LLC be very careful. It can be very costly and with States looking for every revenue source possible they will look very close at you.
-- Edited by Racerguy on Monday 18th of March 2013 05:21:11 PM
__________________
RVing probably not a reality any more.It was a good time while it lasted.
