montana car registration loophole

Good god, I know Montana has some rich natural resources, but damn: people are clearly milking this tax loophole. Ferrari F60, two vehicles valued at $2.5 million apiece, with total fees of $45,000. Our county is Flathead County and does not have a county option tax because our county has more money and less people than most. It costs you about $1,000 to have one of the Montana law firms set up your LLC and do the registration and titling paperwork and send you back the Montana license plates. The news site posted this full list (which they received from from the Division of Motor Vehicles via the Office of Budget and Program Planning) of luxury Montana-registered cars worth over $150,000, along with associated proposed annual fees: Forty Porsche 918s? Porsche 918, 40 vehicles valued at $850,000 apiece, with total fees of $306,000. Except, this brings us to reason No. We will provide you the filed LLC papers, operating agreement, and resolutions documenting you, the members, sole authority to make decisions for the LLC. There is no specific loophole in MT other than our lack of sales tax, use or property tax in combination with very low registration fees as compared to … The title of your Bentley, Ferrari, or vehicle will be under the name of your Montana LLC. You are a non-resident working in Montana. So, an industry has sprung up to assist people from other states who want to take advantage of Montana’s laws while living elsewhere. Lamborghini Aventador, 55 vehicles valued at $400,000 apiece, with total fees of $198,000. Montana also has very low registration fees, another reason many people register there. Vehicle Registration Renewal in Montana . They create an LLC in Montana and then buy and register the vehicle in the LLC's name. Rolls Royce Phantom, 16 vehicles valued at $430,000 apiece, with total fees of $61,920. LLCs or Limited Liability companies can be formed and purchase vehicles in any state. A Montana official estimates the same car would cost $213.95 to register in Montana. Koenigsegg Agera One 1, one vehicle valued at $2 million, with total fees of $18,000. The investigation focuses on Ryan Hardwick and Dustin Farthing, who … Ferrari F12, 49 vehicles valued at $300,000 apiece, with total fees of $132,300. Montana LLC. Maintain your Montana LLC with the Secretary of State. After doing a bit of research, he found a loophole that permitted him to register his vehicle in Clay County while living in Mexico. Then SOS Linda McCulloch stops by our office to say “Hi” in 2016. Twenty-Three McLaren P1s? Montana MVD's online services and applications. The Vehicle Services Bureau (VSB) regulates the titling and registration of motor vehicles. Online Services ***Attention customers*** We recently completed a major system upgrade. Purchase the vehicle as the Montana LLC, and you’ll have the authority to act for the Montana LLC as the member(s). Also, if you have an expensive vehicle, it will be owned in the Montana LLC. For example, many financial institutions won't finance an RV or motorhome titled in an LLC’s name, especially a Montana LLC. That is a loophole, folks. Up until now, many exotic car owners have gotten around sales tax by simply registering their vehicles with law firms that create special Limited Liability Companies. How? A motor vehicle cannot be titled in Montana without also being registered—the two processes occur simultaneously. You are renewing registration for a commercial vehicle with a taxable gross weight of 55,000 or more (e.g., trucks, truck tractors, and buses) used on public highways. Massachusetts Motorists Skipping Sales Tax Through Montana Loophole. Maintain a Montana registered agent (we charge $49 a year) to provide you a physical address in MT at all times. Mercedes S600, four vehicles worth $190,000 apiece, with total fees of $6,840. McLaren 675, 49 vehicles worth $350,000 apiece, with total fees of $154,350. How the Montana LLC Exotic Vehicle Registration Works: What we do is help you form a Montana LLC and maintain it, making the Montana LLC a resident of Montana, not you personally. With our service, we provide you the office address, registered agent, and act as a liaison with the state to register your car or truck and LLC. MP: For examples of some of the Montana companies that provide car registration services for exotic cars see here, here and here. Forming a Montana LLC to own vehicles or any kind of personal property is nothing different than the local handyman pulling up to your home in a work vehicle owned by “Handyman’s Service LLC” and pulling a trailer with tools in it that are all owned by the Handyman’s LLC. Sr. Tech Editor, Jalopnik. Aston DB9, one vehicle valued at $200,000, with a total fee of $1,800. McLaren 650, 31 vehicles worth $350,000 apiece, with total fees of $97,650. The program was created in 2004, and it had helped recover $11.5 million in unpaid registration fees by 2015, according to a report by the California Highway Patrol. The car dealer or you will mail us the vehicle title work. Aston DB11, three vehicles valued at $215,000 apiece, with total fees of $5,805. Pagani Huayra, four vehicles valued at $2.5 million apiece, with total fees of $90,000. I get asked from time to time about the so-called Montana License Plate Scam: Can you safely…. Lamborghini Huracan, 83 vehicles valued at $200,000 apiece, with total fees of $149,400. Pickup campers are an exception—they must be titled, but are not registered. If you would like to start a Montana LLC to hold your valuable car or truck, you can sign up below for immediate service: © All Day $49 Montana Registered Agent, LLC 2000 – 2021. The loophole remains open, but in this way, Montana can at least profit from the practice. We can file it each year for you if you’d like. The Missoula County Clerk and Treasurer acts as an agent for the Montana Department of Justice to process vehicle registrations and registration renewals. A Montana LLC vehicle registration is an option some out-of-state residents choose in order to purchase a vehicle without having to pay sales tax on it. We will walk into the Montana Flathead County DMV and register your vehicle the same day. Now, according to local news site Bozeman Daily Chronicle, that may all come to an end with the “Ferrari Tax.” Here’s a look at the cars that will be affected, as well as the tax they’d have to pay if this bill goes through. Purchase the vehicle as the Montana LLC, and you’ll have the authority to act for the Montana LLC as the member(s). Your total cost to have us form the MT LLC in one day and register your auto initially is $800 (not including Luxury Tax). You can use that company to buy and hold the RV. 2 why so many exotic cars have Montana license plates: You don’t actually have to go to Montana. Ferrari 488, 79 vehicles valued at $250,000 apiece, with total fees of $177,750. The owners of some of the most expensive cars in the world began titling and registering their rides in Montana when they thought they discovered a legal loophole. You can always use your Montana LLC to buy a trailer, tow vehicle, airplane, or any kind of asset that can be titled. Helpful stuff we didn’t want to put in our main menu, Get a Montana LLC and Vehicle Registration Today, Form a Montana Limited Liability Company (A Montana LLC). You are renewing registration of special mobile equipment. Audi R8, 14 vehicles valued at $160,000 apiece, with total fees of $20,160. It seems unlikely that nearly fifty Ferrari 458 Speciale owners live there, right? A Montana LLC is no different than any regular business or corporation. Ferrari Laferrari, 14 vehicles valued at $1.5 million apiece, with total fees of $189,000. We’ll overnight you your vehicle registration. But that’s not even the best part. The practice is not unique to MT. This “Ferrari Tax,” Bozeman Daily Chronicle says, could raise up to $2.5 million in 2018, and even more in subsequent years. Chances are THEY are using a tax loophole....like writing off the interest on their mortgage. You display a license plate type that requires recertification. That’s just some petty shit. Ferrari California, 34 vehicles valued at $200,000 apiece, with total fees of $61,200. This can save you quite a bit on sales taxes and property taxes. If you Google “Montana LLC”, you’ll see a booming business with Montana attorney’s is setting up LLC’s for out of state residents and handling the registration of their expensive vehicles. Montana has no sales or use tax and no vehicle inspections. At the first link, they advertise a … Your Montana LLC will be registered at our address, and your vehicle will be registered to our address. Title and Registration Bureau . Ferrari 458, 27 vehicles valued at $240,000 apiece, with total fees of $58,320. Ferrari FF, nine vehicles valued at $300,000 apiece, with total fees of $24,300. If you establish an LLC in Montana, owners can register their vehicle as a business vehicle in the state, thus avoiding paying sales tax. McLaren P1, 23 vehicles worth $1.15 million apiece, with total fees of $238,000. Another quote from the Massachusetts article where Mr. Roberts (the Montana official) once again denounces his own state's practice: But the process has earned the ire of some Montana officials, including Dean Roberts, administrator for Montana's motor vehicle division. Schedule an appointment, renew a license or vehicle registration, & search driver or vehicle information. That means, if you buy an $800,000 Maserati, Lamborghini, Bentley, Porsche, Bugatti, McLaren, Aston Martin, Mercedes Benz, BMW, Mangusta, or any expensive vehicle, you’ll only be looking at $300 for a Montana LLC and $500 for us to get the plates, registration and title, and $825 for the Luxury Tax. They even handle the periodic inspections and renewals. You can then transfer the ownership of the LLC with the Montana Secretary of State for $20 if you ever want to sell the vehicle, and the people you sell the vehicle to have a pre-licensed vehicle. Additional fees and taxes will be due upon registration. Bugatti Grand Sport Vitesse, one vehicle valued at $2.2 million, with total fees of $19,800. Bentley, 40 vehicles valued at $220,000 apiece, with total fees of $79,200. Processing times may be longer than usual while our staff learn the new system. The fuck is wrong with people that can afford a $250,000 car but won’t pay the taxes on it. Montana LLCs don’t have to buy their vehicles in Montana to not pay the sales tax. Plates and registration will take about 1-3 days. We are tasked with processing these transactions and insuring the genuineness and regularity of each transaction. Rolls Royce Wraith, 21 vehicles valued at $300,000 apiece, with total fees of $56,700. We’ll overnight you your vehicle registration. Then you’ll pay yearly about $90-$220 to the Flathead DMV, $20 to the State of Montana for the LLC, and $49 a year for us to be your registered agent and for you to use our address. Rolls Royce Ghost, nine vehicles valued at $300,000 apiece, with total fees of $24,300. Also, many insurers won't insure such a vehicle. Montana doesn’t know exactly how many of the cars on this list have been registered by Montana residents, but they suspect the percentage is quite low. Montana vehicle registrations are yearly. my super nice 360 challenge that i purchased in 2004 for $225k Always interested in hearing from engineers—email me. It costs $20 a year and you can file online. The process works because, unlike Massachusetts and other states, Montana will register vehicles not garaged within its borders. If you’re going to buy a Ferrari, Lamborghini, or some other exotic vehicle, you can buy the car or truck of your dreams with a Montana LLC and not pay sales tax. MT car registration documents are processed by the Vehicle Services Bureau (VSB), which is overseen by the state Department of Justice (DOJ). Cars: Jeep J10 ('85), Jeep Cherokee ('79, '91, '92, '00), Jeep Grand Cherokee 5spd ('94), Chrysler Voyager Diesel ('94). 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