Painless
Veteran Member
- Joined
- Dec 17, 2017
- Messages
- 45
- Location
- Usa
- Vessel Name
- Sand Bar
- Vessel Make
- Mikelson 43 Sport Fisher
I have two questions that maybe our legal members could expound on:
1. I see some boats listed for sale as "Held in an L.L.C." besides the avoidance of State Sales Tax and the separation of the boat from your other assets, What are the advantages and disadvantages of having your boat in an L.L.C.?
2. If You go to the effort to obtain a "Captain's License " and something goes wrong, or someone gets injured aboard Your boat or by your boat, are You held to a higher standard as a Captain than just a regular boat owner as far as liability?
Thanks for any input on these two questions.
1. I see some boats listed for sale as "Held in an L.L.C." besides the avoidance of State Sales Tax and the separation of the boat from your other assets, What are the advantages and disadvantages of having your boat in an L.L.C.?
2. If You go to the effort to obtain a "Captain's License " and something goes wrong, or someone gets injured aboard Your boat or by your boat, are You held to a higher standard as a Captain than just a regular boat owner as far as liability?
Thanks for any input on these two questions.