Montana Vehicle Registration - THE ULTIMATE GUIDE...vehicle registration process. This means that...
Transcript of Montana Vehicle Registration - THE ULTIMATE GUIDE...vehicle registration process. This means that...
1 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
T H E U L T I M A T E G U I D E
On Vehicle Registration With Your Montana LLC
© copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
2 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Index
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Starting a Montana LLC - Is it Difficult? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Purchasing a Vehicle Using Your Montana LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Vehicle Registration Tips for Montana LLC Owners . . . . . . . . . . . . . . . . . . . . . . . . . 7
How Many Vehicles Can I Buy Under My LLC? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Can I Drive My Vehicle if I Live in Another State? . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Contact LLCTLC Today to Start Your Montana LLC . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Introduction
Owning a Montana LLC offers many financial benefits, including the ability to
spend less on vehicle purchases and registration made under the LLC’s name.
In Montana particularly, there are distinct advantages that make this state
one of the friendliest to LLC owners, especially when it comes to sales tax and
vehicle registration costs.
A recent study from PKF Consulting proves that the typical family vacation
involving airplanes, hotels, and rental cars has a bigger carbon footprint than
traveling with the same family in an RV (RVers save money too — as much as
61%).
4 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Starting a Montana LLC – Is It Difficult?
The Internal Revenue Service classifies an LLC, or Limited Liability Company,
as a standalone entity. An LLC must have at least one member, and will be
categorized by the IRS as either a partnership, corporation, or as part of the
LLC owner’s individual tax return.
Although each state has its own rules, Montana is a very popular state to start
an LLC in because of their tax-friendly laws for LLC owners. Some things you
should know about the benefits of owning a Montana LLC:
LLC owners can itemize business-related deductions on their LLC’s tax
return.
New 2018 tax rules for personal income tax returns prohibit
individuals from claiming itemized deductions. The only way to
itemize deductions is to own a business such as a Montana LLC.
A tax professional can help you maximize your itemized deductions
and save you even more overall.
A Registered Agent is required in Montana for all LLCs. LLCTLC can
serve as your Registered Agent, filing all necessary paperwork for you
with the state of Montana…and all for one flat fee.
Annual renewal of your LLC filing is all that is required to keep your LLC
viable and active. LLCTLC will handle 100% of your paperwork each
year.
Vehicles can be purchased under your LLC without owing sales tax
because Montana is a “no sales tax” state.
Depending on where you live, this can be a significant savings on
sales tax alone!
5 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Purchasing a Vehicle Using Your Montana LLC
Sales tax ranges from state to state, with some state counties charging as
much as 10% on all purchases. For large ticket items, a tax rate of 10% can
add up to thousands of dollars. Savvy shoppers can start a Montana LLC and
then purchase their vehicles wherever they want to, yet owe no sales tax at
the time of purchase.
How is this possible? Your LLC is registered in the state of Montana. Remember
that the IRS considers an LLC as its own entity, so purchases made by the LLC
are considered as business purchases.
If you were to buy a vehicle under your own name, your personal credit would
be checked, the loan would be taken out in your name, and the vehicle
registration would be registered under your name as well.
With a Montana LLC, however, the vehicle is purchased by the LLC itself, the
line of credit is taken out in the LLC’s name, and the vehicle registration is
listed under the LLC’s name. So, what does this mean for sales tax fees? Those
fees fall under Montana tax laws because your LLC is registered in Montana
and enjoys the same tax benefits that Montana residents receive.
6 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
As your Registered Agent, LLCTLC can help answer any additional questions
you may have about the ins and outs of how this process works, but basically
your Montana LLC is filed with the state of Montana, we function as your
Registered Agent (required by the state of Montana), and all paperwork and
corporate filings are handled by us so that you can sit back and enjoy the
benefits of being an LLC owner.
Once your LLC is started, you can start making vehicle purchases under your
LLC name. This allows you to get all of the tax benefits that come with being
a Montana resident. This is made possible because your LLC is registered in
Montana and is considered by the IRS as a standalone entity in that state.
As a Montana LLC owner, you can purchase vehicles and owe no sales tax
because your LLC is considered a Montana resident.
7 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Vehicle Registration Tips for Montana LLC Owners
Any vehicles you purchase under your Montana LLC must be registered with
the state of Montana. Since each state has different requirements to properly
register an out-of-state vehicle, LLCTLC handles all registration paperwork
and yearly renewal for our clients for one easy flat fee. This saves you the time
and aggravation of trying to figure out how the Montana vehicle registration
process works.
A permanent registration is required for all vehicles registered in Montana
that are 10 years or older. This is quite different from many other states in that
other states may charge fees based on the vehicle’s value or weight rather
than on its age for the lifetime that it is owned.
You can save a significant amount on vehicle registration if you have purchased
an older vehicle such as a classic or collector’s car. As compared to other
states, Montana is extremely friendly toward older vehicles that are registered
with permanent plates. They even offer special plates for antique vehicles
over 30 years of age.
8 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
As experience Registered Agents, LLCTLC is familiar with every aspect of the
vehicle registration process. This means that you won’t have to worry about
whether your vehicle classifies for special plates, what fees you might owe
based on your vehicle’s age, or whether or not you qualify for permanent
registration.
We have decades of experience, so you can rest easy knowing that we’ve got
it all handled for you.
9 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
How Many Vehicles Can I Buy Under My LLC?
If you’re looking to invest in some high-value vehicles to resell, your Montana
LLC is an ideal way to conduct business. There is no limit to the number of
investment vehicles you can buy and sell under your LLC name.
For example, your Montana LLC can purchase as many RVs, ATVs, motorcycles,
horse trailers, watercraft, boats/yachts, high-end luxury vehicles as you want
(and sales tax free!). You simply buy the vehicle under your LLC, and we can
get each one registered with the Montana Vehicle Division for one flat fee per
vehicle.
10 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Can I Drive My Vehicle If I Live in Another State?
Yes! All 50 states allow out-of-state vehicle owners to legally drive their vehicles
in their home state. For example, you can drive your vehicle in your home
state even if it is registered in the state of Montana and has Montana plates.
In Canada, residents can drive vehicles with Montana plates for 6 months out
of each calendar year.
As a Montana LLC owner, it can’t get any easier:
1. You can buy vehicles in your home state without paying sales tax at the
time of purchase.
2. Registration in Montana is handled by LLCTLC so you don’t have to
hassle with any paperwork.
3. You can legally drive your vehicle in your home state.
11 © copyright 2017 Deer Creek Corporate Services/LLCTLC | 877.913.5100 | [email protected]
Contact LLCTLC Today to Start Your Montana LLC
Starting a Montana LLC and reaping the benefits of no sales tax and affordable
vehicle registration is just a phone call away. Our efficient and experienced
Registered Agents are ready to help you get started today.