Will Purchasing an LLC Avoid Sales Tax on a Yacht?
I am considering the purchase of a fairly expensive yacht that happens to be owned by a Delaware LLC.
My yacht broker has advised that I can avoid paying sales tax on the purchase if I buy the LLC itself rather than the yacht. He also indicated that this could be done without spending the time outside of California that would otherwise be required to avoid sales tax.
Is this true?
If so, what are the issues that I should look out for when purchasing an LLC?
Read the answer on http://www.thelog.com
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