31 Mar Why Should I use Montana LLC When Buying my Luxury Car?
Deciding how to go about your next vehicle purchase can be difficult. Especially if you’re looking to get that luxury care you’ve been dreaming about. Fortunately, Montana LLC has a variety of ways to make that special buy flow a little smoother. With an understanding of what a Montana LLC is, the benefits that can come from it, and how exactly you set it up – you can look forward to driving your new vehicle soon. A few simple steps will put you at ease and the money you save through each benefit will be worth it.
WHAT IS AN LLC?
LLC stands for Limited Liability Company. When you open an LLC you’re creating an entity that limits liability in events such as bankruptcy and lawsuits. It is not a corporation, but it acts as a legal form of a company providing limited liability to its owner(s).
WHY SHOULD I USE MONTANA, LLC?
No need to file a tax return
- You won’t have to file a Montana tax return if there isn’t any business activity on your LLC. Without activity, there’s no tax liability.
No in-state sales tax
- Montana does not have sales tax, therefore you won’t be paying it at the time of registration. However, you will have to comply with tax laws where the vehicle is located.
Discounts for multiple vehicles
- We register additional vehicles at a discount and you can register as many vehicles as you choose.
Register vehicles you already own
- Make sure you contact your lien holder to find out their specific requirements, but you can register any vehicle you already own under your LLC. If you need a borrowing and resolution operating agreement to satisfy your current lien holder, then we’ve got one to provide you with.
HOW DO I SET UP MY MONTANA, LLC?
- When you start the registration process for your vehicle, you’ll enter your vehicle information to receive a free quote.
- Once you’ve chosen to submit your paperwork to us, it will be filed with the state of Montana.
- Upon acceptance, your LLC will be considered a residence of Montana, and you’ll be able to purchase vehicles under the LLC.
- Contact us for all of your LLC needs.
WHAT IF I LIVE OUT OF STATE, IS IT LEGAL?
Regardless of the state or even what country you live in, you can legally set up a Montana LLC. However, you should look up your state’s regulations for vehicle usage and specific tax laws beforehand. Through Montana, you will not pay taxes, but your state laws may be different, so make sure to double check them. Keep in mind your vehicle will not technically be in your name, it will be under your Montana LLC’s name. We will provide a mailing and physical address to ensure you meet all requirements in Montana.
For those of you that live in another country, like Canada, your Montana LLC will provide you with a physical and mailing address. Using your LLC you may purchase your vehicle from a dealership and it will be registered to the state of Montana.
ADDITIONAL NEED TO KNOW INFO
Choose to customize your plates for an additional $100 or not, we will file for your Montana LLC within 24 hours of payment. Your wait to receive your plates shouldn’t take long and you should receive them shortly after we’ve filed. Mailing, shipping and processing is included in your payment.
Annual fees and renewal of registration take place every January with three simple steps. We’ll walk you through the process each year and ensure you receive reminders for any important information by forwarding your mail. While your vehicle is registered in Montana, you do not have to hold a Montana license. Should you get pulled over, make sure you have your Montana vehicle registration in addition to your Montana LLC articles of incorporation.
Remember to reach out to us at MT Vehicles anytime, should you have any questions or concerns. We’ll work with you to make sure you’re satisfied with your new Montana LLC.