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 LLC in Montana 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 RVs, airplanes, jet skis, fishing boats, watercraft, yachts, work trailers, vehicles and other moveable properties under your new limited liability company.
A huge benefit of registering boats, jet skis, and boat trailers in Montana is permanent registration. In other words, you pay a one-time fee when you first register it and then from there on out, you pay no yearly fees to keep the license plate valid.
How Forming an LLC In Montana Benefits You
First of all, registering all your LLC's vehicles can be expensive if you opt to register in a state with high sales tax. (Updated 2024 - here are the states with the highest sales tax) By having an LLC in the state of Montana, you can have your summer fun with boats and watercraft all year round while saving thousands in sales tax. (You can register all types of vehicles with a Montana LLC!) Here are a few benefits a Montana 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 a luxury RV or yacht, you can save a lot of money with a Montana LLC! It is worth the annual savings alone to register your vehicles under the LLC.
The state of Montana has few restrictions on who can be an LLC owner or member. Unlike other types of businesses, there is no requirement for LLCs to have corporate resolutions or minutes, as your Montana LLC is an asset-holding entity only.
The benefits and savings of forming an LLC in Montana to purchase moveable property is a win-win for those who want to enjoy boating and incredible tax savings. The process is not only simple, but you also stand to enjoy much-needed privacy on your purchases and information under a Montana LLC with LLCTLC's Armored Privacy options.
Experience the LLCTLC Difference Today
If you're seeking a painless and efficient way to protect your privacy and save on sales tax when purchasing your boat, watercraft, vehicles or other high-value items, LLCTLC's expert registered agents are here to assist.
Our experienced Montana Registered Agents are dedicated to helping clients establish and manage Montana LLCs with ease, ensuring you can enjoy the benefits of your vehicle purchases without the added stress of navigating complex legal processes.
Don't miss out on the opportunity to combine privacy, protection, and financial advantages – contact LLCTLC today.