Rutgers Tailgate Vehicles

[RUTGCrew]

Posting to free board as well.. Curious how other groups that have a dedicated truck, bus, van, etc. for RU football tailgating handle the purchase, registration, insurance, etc.

Looking to pool funds for purchase and remake but then have vehicle parked at one guy's house near by. Would we have to have someone individually purchase and handle the registration and insurance in their name? Has anyone gone to the extreme of setting up an LLC for your tailgate group? Any other approaches out there to remove any additional liability to any one individual or have some sort of group ownership.

Thanks for insight from others that have taken their tailgate to the next level. Curious to see some pics as well of all the RU tailgate vehicles out there.

Post your vehicle pics!!!

 

[vkj91]

For some great ideas and pics of other vehicles go here

http://www.tailgatelot.com

 

[jason21psu]

Posting to free board as well.. Curious how other groups that have a dedicated truck, bus, van, etc. for RU football tailgating handle the purchase, registration, insurance, etc.

Looking to pool funds for purchase and remake but then have vehicle parked at one guy's house near by. Would we have to have someone individually purchase and handle the registration and insurance in their name? Has anyone gone to the extreme of setting up an LLC for your tailgate group? Any other approaches out there to remove any additional liability to any one individual or have some sort of group ownership.

Thanks for insight from others that have taken their tailgate to the next level. Curious to see some pics as well of all the RU tailgate vehicles out there.

Post your vehicle pics!!!

I would recommend going the LLC route. The true costs of ownership of such a vehicle are not easy to get people to chip in for. Unless one person is willing to shoulder the financial load or wants to own the vehicle to be used for other purposes outside of tailgating season than an LLC is the way to go. You might be able to do a legal agreement vs. a true LLC so you don't have to file taxes for the tailgate, but definitely having a pre-agreed contract for all partners is wise.

 

[RUTGCrew]

I would recommend going the LLC route. The true costs of ownership of such a vehicle are not easy to get people to chip in for. Unless one person is willing to shoulder the financial load or wants to own the vehicle to be used for other purposes outside of tailgating season than an LLC is the way to go. You might be able to do a legal agreement vs. a true LLC so you don't have to file taxes for the tailgate, but definitely having a pre-agreed contract for all partners is wise.

Any guidance from folks that have setup an LLC? It was one path we were considering. We do collect tailgate funds from those involved. Would we then have to file these taxes and profit and loss? We current manage most all funds through paypal accounts. Any way to setup as a non-profit? Assume then we could purchase vehicle without sales taxes.

 

[jason21psu]

Any guidance from folks that have setup an LLC? It was one path we were considering. We do collect tailgate funds from those involved. Would we then have to file these taxes and profit and loss? We current manage most all funds through paypal accounts. Any way to setup as a non-profit? Assume then we could purchase vehicle without sales taxes.

Definitely talk to an account/lawyer but I assume your only "profits" are in the form of collecting funds "from those involved". So essentially you'll be making capital contributions on some sort of regular basis. That would all go on the K-1 when completing taxes but I don't believe capital contributions have an effect on your personal taxes. Unless your really looking to run your tailgate to make money, I'd be really careful about using the "tailgate business" to avoid taxes. Now if you set up a non-profit to raise money for RU Athletics and used the tailgating as donor reward events then maybe you could have something but I think you'd legitimately have to try to raise money and even make a contribution to get the non-profit status.

Maybe just call one of the online LLC formation companies, like Legalzoom, and see what they say what business structure is best for what you want to do.