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PUNISHMENT TAXES are coming for Muscle Car Owners


ColdwaterHotrod

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Luckily, we don't have to sit and just take this. If your state enacts this, you do have options.

 

You can open an LLC in another state that has low registration fees and no carbon penalties. You can then license your car through the LLC. That way your home state not only doesn't get the carbon penality, they don't get your registration fees either.

 

 

You need to be VERY careful doing this. Its a very popular thing to do in the Motorhome circles but the IRS and state tax agencies have been quite successful in collecting not only the tax avoided but severe penalties for tax evasion. The jest of the conviction was that the LLC was set up SOLELY for the purpose of tax evasion which is illegal. Now if you actually have an ongoing business concern, as simple as an ebay business, working from that LLC then my understanding is it becomes much more difficult to enforce.

 

I am all for avoiding paying UncleSam any more than I absolutely have to, just be careful out there.

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