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Updated about 7 years ago,
Company or personal vehicle for business use!?
I am planning on purchasing a vehicle for business use only - 100% business use no exception (in New York State). My question is whether there are any tax disadvantages of owning the vehicle under my name versus the company name. The savings I anticipate if I register under my name are the insurance costs. The company is a two member LLC taxed as a partnership. Any thoughts are appreciated.