15 Mar Summer Fun USA! Save On Boats And Water Crafts All Year Long
It can be about summer fun USA all year long while doing business in the great state of Montana. Montana is one of the few states besides Alaska, Oregon, Delaware and New Hampshire in the USA today without a general sales tax. The objective is to make it cheaper for people to purchase products. The state relies on income taxes to counter balance its budget to run its affairs. This means with an LLC in Montana you can save on your summer toy purchases all year long!
LLCs In Montana
Limited liability companies (LLCs) can be taxed as either a partnership or corporation. Montana doesn’t have a “privilege tax” or a “franchise tax” for doing business in the state, so unless you run a true corporation, your corporation as an entity is exempt from tax. This makes it much cheaper to do business in the state. You can form a Montana LLC and register your RVs, airplanes, jet skis, fishing boats, watercrafts, yachts, work trailers, vehicles and other moveable properties under your new limited liability company.
How Forming Your LLC In Montana Benefits You
First of all, registering all your LLC properties can be expensive if you opt to register in other states with double taxation and do apply a sales tax policy. By having an LLC in the state of Montana, you can have your summer fun with boats and water crafts all year round plus save on tax dollars. Here are a few benefits that an LLC provides:
- LLCs have the limited liability protection of a corporation and enjoy flexibility in diverse forms of profit distribution unlike a 50-50 split for partnerships.
- A Montana LLC will not be subject to double taxation i.e., paying individual tax and corporation tax.
- There is no personal property tax in Montana, hence if you want to purchase an $80K RV or a $400K yacht,you can save a lot of money with a Montana LLC! It is worth the annual savings alone.
- The state of Montana has few restrictions on who can be an LLC owner. Unlike other types of businesses, there is no requirement for LLCs to have corporate resolutions or minutes.
- Montana is the worlds best onshore tax haven. The state has numerous advantages over offshore places like Dubai or Aruba or other competing states.
- In addition, you stand to benefit from top notch maintenance services and low rates for expert repair for your aircraft and water crafts.
The benefits and savings of registering an LLC in Montana to purchase moveable property is a win-win for those who want to enjoy their summer toys all year round! The process is not only simple but you also stand to enjoy much-needed privacy on all your purchases and information under an LLC.
Once the season is over and if you intend to sell any of your summer fun toys or carry out a trade in, you simply need to sign off the title using your Montana LLC. Your dream of owning a boat, high end vehicle or aircraft is no longer impossible and you can save precious dollars courtesy of ‘no sales tax’. Don’t be left out any longer! Contact your local Montana registered agent to find out more about Montana LLC formation and registration.