[x622]

Originally Posted by dgoldenz

Good luck finding banks willing to lend to a Montana LLC. You’d have to pay off the loan and take out a new one under the LLC once it’s been established but in my experience that is impossible, couldn’t find any banks willing to do it. Realistically the car needs to be paid off to title it there.

He could just get a new g80 under his montana entity from BMWFS with him as the PG.


But if he wanted to keep it.. too little money for putnam or woodside. Big bank is def out, credit union is a possibility depending on if he has provable cashflow/assets. Follow up depending on what you figure out.

[pbonsalb]

Wealthy people who can pay cash use the Montana and similar tax avoidance companies and trusts. The feds have a new BOI requirement that might reduce some of the cheating.

[G MONEY]

Originally Posted by pbonsalb

Wealthy people who can pay cash use the Montana and similar tax avoidance companies and trusts. The feds have a new BOI requirement that might reduce some of the cheating.

Cheating. Lol. Most of the cheaters work for the feds and gov. Come on bro.

[pbonsalb]

Originally Posted by G MONEY

Most of the cheaters work for the feds and gov.

LOL. Ignorance is bliss.

[BlkGS]

Originally Posted by BMess

Bumping this older thread but a few questions I was hoping someone could answer:

G80 currently registered in NJ and has a lien. I’d like to form a MT LLC and transfer the G80 to that MT LLC. Do I need to fund the MT LLC such that the MT LLC can buy the G80 from me personally, satisfy the lien, and then refinance it under the MT LLC? Or alternatively, can I transfer ownership, register the car under the MT LLC and assign my personal lien to the MT LLC with MT LLC assuming all future payments?

You've already paid the sales tax in NJ. You don't have a real benefit to doing this outside of maybe some registration savings. Not sure that it's worth the hassle or risk when you already paid the sales tax that's the real reason to do this all.

[G MONEY]

Originally Posted by pbonsalb

LOL. Ignorance is bliss.

Exactly. What’s the annual income for a senator or congressman? Then go check on their net worth. They ALL are on the take and craziest thing is they are allowed to trade stocks which is where most make their funds illegally. Carry on bud

[pbonsalb]

Most are also married and their spouses have wealth. I am aware of occasional news articles about stock trades by members of congress and senate. This is hardly proof that all the cheaters work for the federal or state government. You are obviously quite ignorant, probably poorly educated, and get your news from conspiracy sources. You carry on.

[BlkGS]

Originally Posted by pbonsalb

Most are also married and their spouses have wealth. I am aware of occasional news articles about stock trades by members of congress and senate. This is hardly proof that all the cheaters work for the federal or state government. You are obviously quite ignorant, probably poorly educated, and get your news from conspiracy sources. You carry on.

Eh, actually he's right about the Congress and stocks thing. Congress is "immune" from insider trading laws, and so they could and often do act on information that isn't public knowledge yet to make large amounts of money. It happens at lower levels too, where a company is about to be awarded a big grant or something like that and the people that are part of that award process buy before the information is public and make a killing.

We're ordinary citizens to do that, we would face huge penalties or jail time like Martha Stewart did. But for members of the government, it's ok. A key thing that we were always taught in training classes about selling to the government, it is not illegal for a government employee to take a bribe or improper gift, it's only illegal to give them.

That said, none of this changes that Montana LLCs are tax fraud, and you can have your cars seized and possibly do jail time for it.

[G MONEY]

Originally Posted by pbonsalb

Most are also married and their spouses have wealth. I am aware of occasional news articles about stock trades by members of congress and senate. This is hardly proof that all the cheaters work for the federal or state government. You are obviously quite ignorant, probably poorly educated, and get your news from conspiracy sources. You carry on.

Yawn

[pbonsalb]

Originally Posted by BlkGS

we were always taught in training classes about selling to the government, it is not illegal for a government employee to take a bribe or improper gift, it's only illegal to give them.

What about 18 U.S. Code § 201? It applies to both giver and receiver. There are also state law counterparts in most if not all states. As for insider trading by members of congress, the 2012 Stock Act makes it illegal, but it has enough loopholes that prosecution is hard and attempts to strengthen the law have failed. Still the claim that all the cheaters using Montana LLC and trusts are government workers is laughably ignorant, but educating conspiracy theory nut jobs is usually an exercise in futility — they yawn.

[BlkGS]

Originally Posted by pbonsalb

What about 18 U.S. Code § 201? It applies to both giver and receiver. There are also state law counterparts in most if not all states. As for insider trading by members of congress, the 2012 Stock Act makes it illegal, but it has enough loopholes that prosecution is hard and attempts to strengthen the law have failed. Still the claim that all the cheaters using Montana LLC and trusts are government workers is laughably ignorant, but educating conspiracy theory nut jobs is usually an exercise in futility — they yawn.

I would agree with your assessment that most people using tax cheats are not government workers. There may be a handful of them, but I'd suspect most of those people are only in government due to family wealth, and would be cheating regardless.

[pbonsalb]

The new BOIR requirements may help reduce the opaqueness of Montana LLCs or trusts that are used by some to cheat, but those who want to cheat will find other ways.

[x622]

This thread is the gift that keeps on giving.

[RM7]

Originally Posted by BlkGS

A key thing that we were always taught in training classes about selling to the government, it is not illegal for a government employee to take a bribe or improper gift, it's only illegal to give them.

This is highly incorrect.

[Clark_Kent]

Originally Posted by RM7

This is highly incorrect.

Maybe in a banana republic. The internet is a wild place. One of the craziest things I've read in a while and I consume a substantial amount of content.

[BloomRunsDubs]

Has anyone here tried this in WI? I see some exotics here once in a while with Montana plates. I've never even considered it before, just looking into the possibility for an upcoming larger than usual car purchase.

On a side note.. I never expected to see people on here defending the government lol. Sales tax on cars, especially used, is one of the greatest scams in human history, up there with property tax. This isn't about not being able to afford it.. its about not giving uncle sam more of our hard earned money to light on fire.

[BlkGS]

Originally Posted by BloomRunsDubs

Has anyone here tried this in WI? I see some exotics here once in a while with Montana plates. I've never even considered it before, just looking into the possibility for an upcoming larger than usual car purchase.

On a side note.. I never expected to see people on here defending the government lol. Sales tax on cars, especially used, is one of the greatest scams in human history, up there with property tax. This isn't about not being able to afford it.. its about not giving uncle sam more of our hard earned money to light on fire.

Tax fraud is tax fraud. Don't like it? Chamge the tax code. Cheating is cheating no matter how you try to justify it.

[pbonsalb]

Originally Posted by BloomRunsDubs

Sales tax on cars, especially used, is one of the greatest scams in human history, up there with property tax.

Ignorance is the biggest scam and you are unfortunately suffering from it. Educate yourself, but broadly, not narrowly from conspiracy theorists trying to control your mind by appealing to your baser instincts.

Governments are largely funded by taxes and fees. There are hundreds to choose from. The selection of one government may differ from another. Some primarily use sales taxes, some income taxes, some property taxes taxes. Within those categories there can be exceptions or limitations. The tax may be up to only a certain value or above only a certain value or not apply to certain goods.

My state has no broad based sales or income tax. It does have high property taxes and high registration fees on new and very young cars. Is my state scamming me? No.

[BloomRunsDubs]

Originally Posted by pbonsalb

Ignorance is the biggest scam and you are unfortunately suffering from it. Educate yourself, but broadly, not narrowly from conspiracy theorists trying to control your mind by appealing to your based instincts.

Governments are largely funded by taxes and fees. There are hundreds to choose from. The selection of one government may differ from another. Some primarily use sales taxes, some income taxes, some property taxes taxes. Within those categories there can be exceptions or limitations. The tax may be up to only a certain value or above only a certain value or not apply to certain goods.

My state has no broad based sales or income tax. It does have high property taxes and high registration fees on new and very young cars. Is my state scamming me? No.

Lol.

You don’t say.. governments are funded by taxes and fees.. extremely overfunded. Most of these taxes and fees should simply not exist. If you pay attention it is pretty easy to see how much blatant government waste there is. It’s not a “conspiracy theory” although most of those “conspiracy theories” are being proven somewhat true as of late.

If not being thrilled with paying nearly half of earned income in tax plus sales tax on every purchase plus property tax on homes makes you ignorant than sure im ignorant.

Perhaps you work for the government I don’t know, you are definitely in a small minority of people who enjoy excessive taxes and fees.

Anyways let’s not stray too far from the subject we can agree to disagree.

[pbonsalb]

Yes, we can agree to disagree. You are entitled to your opinion.

[Mech Spec]

Some countries are taxing cars at 100%+ of their value and this guy can't even afford to pay 5% lol

[BloomRunsDubs]

Originally Posted by Mech Spec

Some countries are taxing cars at 100%+ of their value and this guy can't even afford to pay 5% lol

To even do this the car has to be paid in full. If you live somewhere that is taxing you 100% you need to move asap lol