LLC Financing & Tax ID question

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chrisrice

Well-known member
Joined
May 27, 2007
Posts
53
Hi Folks,

I have a couple questions to the folks experienced with purchasing an RV through an LLC. I'm considering it for the tax savings, and am puzzled by a couple of things...

1. When the LLC was formed, did you have to obtaina Federal Tax ID number? I'm guessing that you would...
2. If so, then you must have to file an annual tax return, right?

3. If the financing done in the name of the LLC?
4. If so, does the loan show up on your credit report?

I'm guessing that the loan is put in the name of the LLC with a personal guarantee. However, since the loan is technically made to a business, and likely under a Federal ID number, I'm wondering if it ever shows up on a credit report. It would be nice if it didn't, it would aviod showing a lot of debt.

Thanks!
Chris
 
800-846-2204  And talk to Sonya or Mary.  They can answer all your questions.  It's Montana Rv consulting and New Horizons Holding.  They are in Bozeman, Mt.   In fact I just talked to them this AM and Thanked them for something they did for me.   Been with them for quite a while now.  Now is the renewal time for Most LLC's   Just received new tags for the vehicles yesterday.  Good luck in you ventures.  No tax #
 
Thank you. I spoke with Sonya this morning. They are very helpfull.

Unfortunately, no one has yet been able to answer my credit report question.

Thanks again,
Chris
 
They sure helped me over the years.  That's all I can go by.  4 yrs ago The state of ILL Said that because my company was registered in ILL, IN, MT, and MO But that I also lived in ILL, had an ILL Drivers License and Received Retirement pension for the State of ILL I had to pay ILL sales Tax  plus fines and penalties for 7 years on a previous MH, or they would withhold all pensions until it was paid.  Montana RV Consulting Fought the case and after 3 years gave up and the actually paid all expenses and cost me NA-DA, zilch, nothing.  Needless to say I'm happy I had paid them $1190 for the 1st RV registered thru them.  This MH and also my Jeep and 2 trailers are with them now.    Have had this MH 5 years, but no longer live in ILL.  Next year hope to be able to buy something in Montana, then the heqq with them.  Maybe we as a group should purchase something up their and it would give us all a physical address then.,  Move Carl, Sam's !! might be coming soon  LOL
 
Wow, that's a big feather in RV Consulting's cap Shayne!

Maybe we as a group should purchase something up their and it would give us all a physical address then.
Click to expand...

Hey, that's not a bad idea Shayne. I'll drop my $100 in the kitty for a share in the property  ;D
 
Me 3  I've thought of this for a long time.  Ever since the episode on the ILL TAX came about. I think we could do something like that and have mail sent there and once a month have someone, forward it too us  while discarding all the junk mail.  I feel we could hire someone very reasonably to do this.  Heck even if the place had an old trailer on it they could live there and take care of the mail for the rent.  Just a thought if we got enough to go in, it sue would be cheaper.'
Funny thing is the state went almost 4 yrs before they contacted me about it.  I've called them everything in the book and then some, but to no avail.  That's why when I recommended them for service, I know 1st hand how good they are.  If I've been treated right I will back them but if not poo on them and I'll recommend that too.
 
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