07-05-2018, 12:34 PM | #2 | |
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Georgia is cracking down on this specifically for Montana tags. Pretty big fine if you get caught. |
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COChris888.50 |
07-05-2018, 12:50 PM | #3 |
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Sounds like you are asking for tax evasion advice.
Can't speak for Colorado, but I know a guy that got hammered in California. Wouldn't recommend. |
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COChris888.50 HammerDahn28.00 |
07-05-2018, 12:54 PM | #4 |
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There is quite a bit of information on the topic via google, there are several companies that will set this up for you but it is not a freebee as it was in the past. You have to set up an LLC that owns your car and you pay fees to the county where the LLC is based, several Montana counties have established higher fees to gain revenue. Financially it likely doesn't make much sense unless your buying a car 200k or more because your going to pay someone to set this up, maintain it etc. Additionally you will have to set up a separate insurance policy under the LLC. If your financing the car you might have another challenge with that also.
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07-05-2018, 02:36 PM | #6 |
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Do some research. Many use it. When I researched it, I believe I found that a judge had cracked down on people in Colorado, if I recall correctly. You'll find that most of the country's 918's are owned in Montana, interestingly enough. A tax bill for an M2 is relative - if you compare it to a $1mm car like a 918. Make an informed decision.
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07-05-2018, 03:07 PM | #7 |
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It's un-american to evade taxes.
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07-05-2018, 04:17 PM | #8 |
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The tax avoiders better not be of a certain party that loves to raise taxes. You choose to live in a high tax state and vote for your representatives. Pay your damn taxes people.
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Thescout134947.00 |
07-05-2018, 06:16 PM | #9 | |
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07-09-2018, 11:36 AM | #10 |
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I'm all for using ethical/legal means to lower your tax burden, but when I see a supercar with Montana plates it makes me think the owner is a cheap douchebag that only bought the car for the attention
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07-09-2018, 11:43 AM | #11 | |
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But I get that it's your opinion, albeit strange to me.
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akkando5872.50 |
07-11-2018, 09:29 AM | #12 |
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Interesting thread.
I've always wondered what the lower limit for this would be. In my high sales tax state, this strategy has held up in court. I'll definitely pursue it on my next large purchase, but hadn't really considered it on something like an M2. There's a few grand of savings there tax wise. |
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07-15-2018, 08:02 AM | #13 |
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07-15-2018, 09:12 AM | #14 | |
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Both are terrible.
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COChris888.50 |
07-15-2018, 10:35 AM | #15 |
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Let me confuse you more. I live near a very very liberal city in CO and was raised in TX.
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07-15-2018, 10:47 AM | #16 |
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Sad part is evading taxes is very American. Corporations do it all day everyday by taking their $$$ overseas and to tax havens. Anyone who orders something online (depending on merchant) enjoys not having to pay state taxes too. It's systemic and needs to stop, but I don't for one second pretend it's uncommon. If everyone paid taxes (including corporations) taxes would be lower on the whole.
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COChris888.50 |
07-15-2018, 11:10 AM | #17 | |
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https://www.nytimes.com/2018/06/21/u...merchants.html
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