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      10-10-2022, 03:41 PM   #45
R N M
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Originally Posted by P1 View Post
Do you have Montana plates on your cars? If not, why?
It only makes sense if you have a significant amount of cars or you have a car that is $500k or more. Otherwise the cost of setting up and maintaining an LLC doesnít make sense.

Montana LLC thing is perfectly legal and promoted by state of Montana.

Why do you think all major banks in US are registered in South Dakota and Delaware?

Adam LZ and other ppl didnít become very successful by luck - these guys run the channels like a business and take advantage of any loopholes like most corporations do.
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      10-10-2022, 03:58 PM   #46
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Quote:
Originally Posted by R N M View Post
It only makes sense if you have a significant amount of cars or you have a car that is $500k or more. Otherwise the cost of setting up and maintaining an LLC doesnít make sense.

Montana LLC thing is perfectly legal and promoted by state of Montana.

Why do you think all major banks in US are registered in South Dakota and Delaware?

Adam LZ and other ppl didnít become very successful by luck - these guys run the channels like a business and take advantage of any loopholes like most corporations do.
It only costs about $800 to set up and $50/year to maintain a Montana LLC.
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      10-10-2022, 06:45 PM   #47
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Originally Posted by dgoldenz View Post
It only costs about $800 to set up and $50/year to maintain a Montana LLC.
This is not accurate.
Annual registration fees for new cars are $290 plus $825 if car has MSRP of $150k or more.

So again it works for ppl that live in states that have high sales tax and are buying very expensive cars. Personally it would not be worth for one $200k car but it makes sense for $500k car or collection.

The other issue is getting financing when the car is owned by an LLC. Most top lenders will not provide approval unless the individual is the direct owner/borrower especially for high priced exotics.

Last edited by R N M; 10-10-2022 at 06:53 PM..
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      10-10-2022, 06:54 PM   #48
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Quote:
Originally Posted by R N M View Post
This is not accurate.
Annual registration fees for new cars are $290 plus $825 if car has MSRP of $150k or more.

So again it works for ppl that live in states that have high sales tax and are buying very expensive cars. Personally it would not be worth for one $200k car but it makes sense for $500k car or collection.

The other issue is getting financing when the car is owned by an LLC. Most top lenders will not provide approval unless the individual is the direct owner/borrower especially for high priced exotics.
The registration fee is separate from the setup/ongoing filing fees. I have one so I know how it works. I believe the ~$800 setup fee includes the first year registration for a car with MSRP under $150k, over $150k MSRP and you have to add the "luxury tax" fee on top. You are correct that most banks will not finance with an LLC. Not sure about the exotic specialty financers like Premier, Putnam, and Woodside.
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      10-11-2022, 08:39 AM   #49
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Fucking hell you americans and your balkanisation of everything, always make the simple so complex.
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      10-11-2022, 09:49 AM   #50
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Fucking hell you americans and your balkanisation of everything, always make the simple so complex.
LOL - we are larger in size than all of Europe which has many different countries/languages/cultures. Well so is Canada right? Well you are what - 12% of our population?

So that many people spread out over that much area is going to have some VASTLY different needs and wants. I actually think we need to have MORE states rights - not less. Then everyone can just pick a state that aligns with their thoughts and beliefs and every gets what they want. One size fits all only leads to upset segments. Plenty of room for everyone to have what they want.
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      10-11-2022, 11:35 AM   #51
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Quote:
Originally Posted by dgoldenz View Post
The registration fee is separate from the setup/ongoing filing fees. I have one so I know how it works. I believe the ~$800 setup fee includes the first year registration for a car with MSRP under $150k, over $150k MSRP and you have to add the "luxury tax" fee on top. You are correct that most banks will not finance with an LLC. Not sure about the exotic specialty financers like Premier, Putnam, and Woodside.
My point was its not just $50 per year to have these cars on a Montana LLC.
Because of the annual registration costs, insurance concerns, tax implications etc - it would only make sense if you are really saving a significant amount of $$$ over just paying the one time sales tax in the state where you live.

For public figures like LZ, the Montana LLC may also shield him from any potential liability etc.
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      10-11-2022, 11:36 AM   #52
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Originally Posted by Alfisti View Post
Fucking hell you americans and your balkanisation of everything, always make the simple so complex.
This is why we have so many lawyers and accountants lol just digging through various laws and tax codes to find loopholes.
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      10-11-2022, 12:00 PM   #53
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Quote:
Originally Posted by R N M View Post
My point was its not just $50 per year to have these cars on a Montana LLC.
Because of the annual registration costs, insurance concerns, tax implications etc - it would only make sense if you are really saving a significant amount of $$$ over just paying the one time sales tax in the state where you live.

For public figures like LZ, the Montana LLC may also shield him from any potential liability etc.
Right, but the LLC itself only costs $50 a year. Itís cheaper to register in MT than most other states even with the $825 luxury fee added. If you are going through a car every 6-12 months then it makes a huge difference. Fortunately in NV we have no sales tax on private party purchases, but most states donít have that.
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      10-12-2022, 08:24 PM   #54
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Quote:
Originally Posted by dgoldenz View Post
Right, but the LLC itself only costs $50 a year. Itís cheaper to register in MT than most other states even with the $825 luxury fee added. If you are going through a car every 6-12 months then it makes a huge difference. Fortunately in NV we have no sales tax on private party purchases, but most states donít have that.
In NY, if you trade in the car then you only pay tax on the difference.
The annual registration fees are less than $200.

Definitely depends on your home state laws if Montana is any benefit.

How does your insurance company treat your Montana car if it lives mostly in another state?
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      10-14-2022, 11:41 AM   #55
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Originally Posted by R N M View Post
How does your insurance company treat your Montana car if it lives mostly in another state?
I've had no issues. Granted, it's not registered in Montana, but it is stored in a different state than it is registered in.
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      10-14-2022, 06:06 PM   #56
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Was just out on Angeles Crest hwy and some dumbass 20 yr old Dodge Avenger was driving at its limits squealing coming in the opposite direction. Had he understeered into my lane I would've been f*cked.

It's a lot of fun to go on these roads, but all it takes is one brain dead idiot like the truck in that video to end your car or your life.
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