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@cashorcharge wrote:Anyone here with experience opening an LLC in Montana that is not a resident of that state?
I'm curious on the practice of creating an LLC, making a large purchase like an Automobile and then register said automobile in Montana versus my own state?
In reading online, practice seems fairly straighforward, create the LLC, purchase the car, register in Montana and your sales tax and registration fees are calculated using the state of Montana (0% sales tax) and Vehicle Registation fees much lower than other states.
Any experienced notes would be appreciated
Here are a couple of general articles about registering one's car in a state other than the state in which one lives.
https://www.4autoinsurancequote.com/can-i-register-a-car-in-a-different-state-than-i-live/
But according to this government site in Montana you can't register your car there without Montana residency
It seems to me that whatever savings you would achieve would be exceeded by the extra costs you would incur, even assuming that you didn't wind up getting in trouble.
Not to step on toes but all the links that S Jamaica posted refer to personal autos. A business vehicle can be registered in the state where the company is chartered or any state for that matter.
@C6 wrote:Not to step on toes but all the links that S Jamaica posted refer to personal autos. A business vehicle can be registered in the state where the company is chartered or any state for that matter.
I agree that technically it's a business entity rather than a person. But there is nothing in the OP about it being a business vehicle.
Thanks @SouthJamaica and @C6
I appreciate the feedback. Working on the specifics and keeping all options on the table are top of mind
Incidentally, FirstRepublic bank was a part of my plan...though with recent events coming into shape, I may be back at square one!
Lots of my friends who do business in Montana have Montana plates! Although they live in SoCal!
It is a very straight forward, simple process! Financing the vehicle is easy in the LLC (no different then personal), and insuring it is not an issue (use Chubb) and just an update First Republic is still handing out loans like they're candy 🤣