[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.