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Montana LLC formation - corporation & partnership law.

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How much will I pay a Montana attorney to form a Montana LLC and then assist me with purchase and registration in Montana of RV/Vehicles? What is the yearly cost, thereafter? I am a resident of New York State. How strict are their tax laws in regards to these types of purchases?


Review & Analysis: Montana LLC Formation and Vehicle Purchase Tax Implications for a New York Resident

Understanding your inquiry, it's evident that you're looking to grasp the potential costs and tax implications of forming an LLC in Montana and purchasing an RV or other vehicles through it. Let's delve into this.

Relevant Montana Statutes and Regulations:

  • Montana Limited Liability Company Act: Establishes the primary framework for forming and operating an LLC in Montana. This can be accessed here.
  • Montana Motor Vehicle Division: Manages vehicle registration and associated tax matters. Relevant information is available here.

Solutions & Key Insights:

To form an LLC in Montana and utilize it for purchasing and registering RVs or vehicles, consider the following steps:

  1. Forming the LLC: Montana offers a simplified process for establishing an LLC. Most attorneys will charge for the time it takes to set up the LLC and provide counsel on its operation.
  2. Vehicle Purchase and Registration: Once your LLC is set up, you can use it to purchase and register vehicles in Montana. Montana has a favorable tax regime, with many vehicle owners benefiting from no sales tax on vehicle purchases. Yet, you'll need to ensure all activities align with both Montana and New York laws.
  3. Annual Renewal: There's an annual report fee for maintaining your Montana LLC, alongside any costs for vehicle registration renewal.

For detailed guidance, you might want to compare lawyers in your area based on their experience, skills, and knowledge in the relevant areas.

Estimated Rates for Legal Services in Montana:

Service Estimated Cost ($)
Attorney fee for LLC formation 500 - 1,500
Assistance with Vehicle Purchase 200 - 700
Yearly LLC Maintenance & Renewal 150 - 350
Total Estimated Initial Cost 850 - 2,550
Yearly Maintenance Cost Thereafter 150 - 350

Further Clarifications:

To provide you with precise guidance, it would be beneficial to have additional details. We highly recommend consulting with an attorney to explore potential tax consequences and ensure you are compliant with both states' laws.

Looking to make the right choice? Find the right lawyer tailored to your needs in Montana.

Key Questions for Consideration:

  1. Purpose of the LLC: Is the primary goal of this LLC tax optimization, or are there other motivations?
  2. Usage of Vehicles: Will these vehicles be used exclusively in Montana or in multiple locations?
  3. Risk and Compliance: Are you aware of potential risks, especially if New York State views the vehicle usage as benefiting a New York resident and thus seeks to apply its tax rules?

Legal Disclaimer:

This response is for informational purposes only and does not constitute legal advice or establish an attorney-client relationship. Always consult with a local attorney regarding your specific situation.

Latest reviews & rating
Last answer by Atty (review)  |  Written  7 years 3 months ago
Written by Mr. Marcus (review) Thu, 03/02/2017 - 08:26 A Montana LLC is no different than any regular private business or corporation. Forming an LLC in Montana (limited liability company) is not as hard as most people…
Last answer by Counselor  |  Written  7 years 3 months ago
Written by Mr. Marcus (review) Thu, 03/02/2017 - 08:26 A Montana LLC is no different than any regular private business or corporation. Forming an LLC in Montana (limited liability company) is not as hard as most people…

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Comments: answer this question

"Montana LLC formation - corporation & partnership law."

corporation & partnership law attorneys Montana

Written by Mr. Marcus (review)
Thu, 03/02/2017 - 08:26

A Montana LLC is no different than any regular private business or corporation. Forming an LLC in Montana (limited liability company) is not as hard as most people in the United states think. You have to file formal paperwork to form a Montana LLC  and pay the filing fee (ranging from $80 to $900). It obviously depending on your state's rules. Many usefull information related to LLCs (Limited Liability Companies) on nolo.com.

  • 1. First of all, you have to choose a name for Your "new" LLC
  • 2. File essential  articles of organization (as mentioned above)
  • 3. Create an LLC operating agreement
  • Once you've created your Limited Liability Company, you can use an LLC Operating Agreement to define your organization's operating terms and help protect your legal rights and responsibilities. With a written record outlining your company's management policies and procedures, you'll be ready to get down to business. Sample LLC Operating Agreement - step by step template from rocketlawyer.com.
  • 4. Publish a Notice (Notice to Creditors and Other Claimants)
  • 5. Get Licenses and Permits (http://revenue.mt.gov/licenses)

 

Výsledek obrázku pro LLC infographic

Montana LLC guide. LLC registrants are required to file Articles of Organization accompanied by the necessary filing fee of $70. Expedited processing services are available for additional fees. For 24-hour priority handling, there is an additional $20 fee. For one-hour processing, there is an additional $100 fee. Fees can change, check with the Secretary of State for the most recent fees. Remember, you have to get an Employer Identification Number (EIN) from the IRS (apply on irs.gov). If there are two or more members in your LLC, your company will need to obtain an EIN from the IRS, for tax purposes.

If you are having legal problems, you can get free legal assistance from lawyers in your area. We assist you to find and compare law firms in your area by clients' reviews, prices (legal fees), and other parameters. You can ask a legal question or find an attorney.

Written by Counselor
Thu, 03/02/2017 - 11:06

Determining your cost to form an LLC in Montana can be difficult. Some websites and "intermediaries" invent unclear fees such as shipping or correspondent fees. I strictly recommend to verify the complete cost to form your LLC before entering your information. Anyway, remember to consult with a tax professional from Montana to decide if an LLC is the right choice for your company. More at http://www.wikihow.com.

  • Montana LLC
  • State Filing Fee:  $70
  • Processing Time:  5 business days
  • Additional Rush Filing Fee:   $80
  • Expedited Processing Time:   1-2 business days

Stated fees (above) and processing times are for Rocket Lawyer members only

Written by Atty (review)
Thu, 03/02/2017 - 13:26

Hello, could you please provide more details?

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