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Originally Posted by R N M
Did you know that pretty much ALL major banks are incorporated in South Dakota. A lot of major companies are incorporated in Delaware.
Having knowledge about laws in the US and how to leverage them is critical for business and personal success. This is why wealthy people have a team of lawyers and accountants.
I also find it hysterical that people feel that the government will put their money to better use then the person that earned it.
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Quote:
Originally Posted by R N M
You do realize there is a cost to open and maintain an MT LLC.
Most folks that do it are regular people that have a car collection of more than 3 cars or a very expensive car. Regular Joe Smith doesn’t know about it bec they are not into cars. Just like I don’t know many other things that other people are doing…..
Also the benefits are not only for tax purposes but avoiding things like annual inspections, registration, front plate rules, tint laws etc.
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Spot on with both points. Use what's out there like everyone else does.
I have a DE corp located in CA. I also have an MT corp for cars located in CA. I'm not a CA resident so it's the only legal way for me to have my cars at the office.