Notices

LLC to own boat

Old 10-03-2007, 08:15 PM
  #1  
Registered
Thread Starter
 
Join Date: May 2007
Location: Louisiana
Posts: 330
Likes: 0
Received 0 Likes on 0 Posts
Default LLC to own boat

Has anyone created a LLC to purchase a boat.

Pros?

Cons?
Mackattack is offline  
Old 10-03-2007, 08:35 PM
  #2  
21 and 42 footers
Platinum Member
 
t500hps's Avatar
 
Join Date: Sep 2004
Location: Richmond VA
Posts: 8,182
Received 119 Likes on 61 Posts
Default

sort of........

Last edited by t500hps; 10-04-2007 at 10:02 AM.
t500hps is offline  
Old 10-03-2007, 09:23 PM
  #3  
Registered
 
Join Date: Sep 2003
Location: Argyle, TX
Posts: 1,631
Received 9 Likes on 2 Posts
Default

Good question I am looking at doing the simular.
JPD Motorsports is offline  
Old 10-04-2007, 06:41 AM
  #4  
Registered
 
Join Date: Jun 2007
Posts: 454
Likes: 0
Received 0 Likes on 0 Posts
Default

Yeah, good deal the Del and Nevada, LLC's the only problem is when they find the boat has been in VA all along they will bust your butt! Ask Whitt Baldwin the channel 12 helicopter pilot, his daddy did that and was flying the chopper everyday on the news, what a moron. They chained his doors to Commonwealth Avation for back taxes.
excalibur32 is offline  
Old 10-04-2007, 07:21 AM
  #5  
21 and 42 footers
Platinum Member
 
t500hps's Avatar
 
Join Date: Sep 2004
Location: Richmond VA
Posts: 8,182
Received 119 Likes on 61 Posts
Default

Originally Posted by excalibur32
Yeah, good deal the Del and Nevada, LLC's the only problem is when they find the boat has been in VA all along they will bust your butt! Ask Whitt Baldwin the channel 12 helicopter pilot, his daddy did that and was flying the chopper everyday on the news, what a moron. They chained his doors to Commonwealth Avation for back taxes.

No sense in "poking the bear"!!! I'll remain annonymous just in case.

Last edited by t500hps; 10-04-2007 at 10:03 AM.
t500hps is offline  
Old 10-04-2007, 09:43 AM
  #6  
Registered User
 
Join Date: Oct 2003
Posts: 9,495
Likes: 0
Received 4 Likes on 4 Posts
Default

They're getting smarter AND tougher on CG registered and out-of-state registered boats. States are losing tons of taxes with all these internet purchases and some though their economies being down. Ohio is jacking fees on everything looking to make up the shortfall and to pay for the promises the dems made to get into office. They may not find you, but if they do, they'll F you hard. I don't know about other states but here it's also a crime.
Chris Sunkin is offline  
Old 10-04-2007, 10:02 AM
  #7  
Registered
 
Join Date: Sep 2003
Location: Argyle, TX
Posts: 1,631
Received 9 Likes on 2 Posts
Default

I was looking to open one up in my residing state, was looking fo rthe benefits of it being registered under the llc as to my name.
JPD Motorsports is offline  
Old 10-04-2007, 10:08 AM
  #8  
Registered
 
kr1276's Avatar
 
Join Date: May 2001
Location: Tampa,Fl
Posts: 589
Likes: 0
Received 0 Likes on 0 Posts
Default

I haven't done it with a boat, but did it with a motorhome 3 years ago and it has worked out real well. Four guys went in as partners and created the LLC. We fund it with charging ourselves for use which is a write-off through our current businesses for entertainment.
kr1276 is offline  
Old 10-04-2007, 02:29 PM
  #9  
Registered
 
Join Date: Jun 2007
Posts: 454
Likes: 0
Received 0 Likes on 0 Posts
Default

It's always good to have an Limited Liability Company, If anything happens you would protect your personal assets from lawsuites. Do it, it's alway's good to CYA!!!!!!!!!!!
excalibur32 is offline  
Old 10-04-2007, 04:25 PM
  #10  
Registered
 
Join Date: Jul 2006
Location: Huntington Beach, CA
Posts: 209
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by excalibur32
It's always good to have an Limited Liability Company, If anything happens you would protect your personal assets from lawsuites. Do it, it's alway's good to CYA!!!!!!!!!!!
Except when poop'n
Insurance God is offline  

Quick Reply: LLC to own boat


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.