The cost of doing business with these cars :(
 

i know some states are similar and some are much more but damm $1.5k a year for registration ouch


https://cimg2.ibsrv.net/gimg/rennlis...123d101442.jpg

Based on what is this calculated? Here is based on engine capacity. It doesn't matter what the car is. You have to pay in excess of 2k$ for a 20y old 4.2l audi, whitch costs less than 10k$
p.s: a 3rd world country in eastern europe with average income of almost 1k$

I mean... not terrible all things considered, a Montana LLC is always at your disposal.

Woke state tax...

Yours is cheaper than mine, $1610 last year for mine lol

https://cimg6.ibsrv.net/gimg/rennlis...91988ca2ff.png

States are catching up to the Montana LLC tax avoidance scheme. Here in WA a fellow collector got caught on camera speeding. State went back investigated all the cars that were registered to Montana. He got hit with back taxes, registration and penalties. It was a lofty bill to say the least. Everyone is free to gamble just don’t cry about it if you get hit.

it's not a scheme, you have a right to legally diminish your tax liability. Do you depreciate your real estate? Form your own IRA/401k? Just because something isn't well used doesn't mean it's a "scheme".... Government wants you to be a sheep....

mine's about half of that.

In VA we also have a yearly personal property tax on the assessed value of the car. That can get pretty interesting....

Wow those are crazy costs in CA. Is there some sort of annual personal property tax in that figure like there is in VA?

We used to live down there and our car tax bill would probably be the same as car payments on another GT3.

I won’t complain about $50 or so per year per car in PA.

Definitely interesting how much it varies per state. I pay about $60/yr in Ohio.

how? i assume most 991.2 gt3's are worth in the 175-275k range and it's 1% of the value of the car for registration here in ca

[QUOTE=flsupraguy;19270318]it's not a scheme, you have a right to legally diminish your tax liability. Do you depreciate your real estate? Form your own IRA/401k? Just because something isn't well used doesn't mean it's a "scheme".... Government wants you to be a sheep....[/QUOTE

Ok try to have that argument with the DOR in your state see how that goes. Plenty of stuff already written about this online. Unless you physically own a piece of real estate in Montana having an LLC is going to be weak argument against your state if they catch you. It’s already happened to someone here in WA the sheep argument or diminishing tax liability didn’t work to well for that person. Also, do a search about Georgia catching on to this as well. I’m all for not paying excessive taxes, I’m not here to work hard to hand over my wallet but some things are not worth the risk for me. Your state may be different but our state makes you pay if they catch you trying to dodge state taxes.

https://jalopnik.com/the-pitfalls-of-the-montana-license-plate-scam-1711216059

also could invalidate your insurance if you are involved in an accident.

[QUOTE=jp884;19270463]I live in CT, across the country from Jorge but I know of a few people who have been caught with the Montana LLC titling. The bottom line is that the car needs to be registered in the state in which the car is garaged. A few collectors here have pretty large collections and trailers to haul their cars. When the iRS investigated there claims of where the cars were garaged, they pulled EZPass records and asked for the mileage logs of the trailers that the owners tried to say they used to transport their vehicles which had all had very low mileage making driving them out to Montana even one way impossible.
In addition, Penske in the Tri-state area won't even allow a buyer to register a car purchased on the Eastcoast to a MT residence or LLC. If a dealership does this and the IRS finds that the LLC is bogus or just a front, the dealership has to pay the sales tax on the vehicle!
You can say all you want and I applaud those who still run MT plates but don't cry spilt milk when the IRS opens up an audit for the current year plus 6 years prior, and then indefinitely...

[quote=jp884;19270463]
I have a friend that had. 300k tax bill from all the years he paid not tax on his cars …he settled.