Carpediem44DB
Well-Known Member
- Aug 18, 2015
- 3,230
- Boat Info
- 2000 Carver 506
2006 44 DB Sedan Bridge
- Engines
- Volvo TAMD 74 P
I've owned a couple of California LLCs over the years to hold aircraft with multiple partners and am considering forming an LLC to hold the 44 DB. I'm not concerned particularly with shielding myself from liability as much as making the boat more desirable to a buyer from a sales tax savings point of view. I'm trying to figure out if it really makes sense or not. To hire a law firm that is experienced in placing yachts in LLCs has been estimated to run $4000. I'm not convinced I need to have a lawyer do it. Since there will be no revenue produced by the LLC the tax docs should not be rocket science. I see many yachts advertised as LLC owned and I know you essentially purchase the LLC from the owner and as such the title of the yacht doesn't change hands so no sales tax is due. Just wondering if anyone has experience they might like to share especially if you found doing a low cost DIY LLC was successful.
Carpe Diem
Carpe Diem