SoonToBe FT - Purchase / Finance / Tax Questions

[sandsys]

4 hours ago, Chad said:

So, my last question (I know it's a fringe subject), is in the realm of an LLC purchasing the RV and avoiding sales tax completely (Montana and some other states I believe).  Most of the things I've read on the subject are 8-10 years old.  Is this an avenue that's been closed for the most part?

Something to be aware of is an LLC is a company. So that company would own your RV. Which might have implications for insurance, trade-in, etc. Please, be sure you understand all the implications of forming an LLC to buy your RV. 

Linda Sand

[Big Greg]

When we purchased our RV 10+ years ago I asked the dealer in Michigan if they had any experience with a customer using the MT LLC.  His response was no.  He also informed me MI came around annually inquiring if any customers had registered any RV purchases outside MI.  I didn't feel the MT LLC was worth the risk although I have read that a few others have used it, none of our friends have.     Greg 

[LindaH]

22 hours ago, Kirk Wood said:

In TX when you buy a vehicle, only the state sales tax(6.25%) is applied, even though there are frequently local option sales taxes on general merchandise. 

The same is true in South Dakota (i.e., you'd pay only the 4%).