The five states in America that don't collect a sales tax are Montana, Oregon, Alaska, Delaware and New Hampshire. Prior to the Great Depression, state sales taxes were mostly non-existent throughout the nation except in a few places. But starting in the 1930s, several states began to adopt these taxes as part of an economic recovery process. By 1940 sales taxes could be found in over half the country. Three decades laters, sales taxes became the top source of income for most states. These are the 5 states that don't have sales tax.
Topics: No Sales Tax State
Purchasing a luxury vehicle is part of enjoying a high income, but that doesn't mean you need to pay the highest price. One of the ways to save money that you can use for other goals is to start an LLC in Montana. You will save tens of thousands of dollars on a Bentley, Ferrari, Tesla or other luxury brands since Montana has no sales tax. Here are ways to maximize the experience of purchasing your dream car.
Currently about 20 percent of American households earn over $100K. Many treat themselves to buying luxury vehicles but must face expensive state sales tax and licensing and registration fees on top of inspections. By purchasing a luxury vehicle through your Montana Limited Liability Company, you can save up to five figures on sales tax and fees in addition to the cost of your car.
Rodeo shows are exciting and highly profitable events for individuals and groups. Numerous people travel around the country to participate in the activities or watch professional cowboys in roping, racing and riding competitions. Whether you are going to rodeo events for pleasure or business, it is important to have a reliable means of transportation. In general, the nomadic lifestyle of rodeos is one of the most common challenges for enthusiasts and pro. If you choose to use chartered transport, you will have to deal with high long-term costs.
If you are thinking about touring the country for travel, consider purchasing a recreational vehicle. Recreational vehicles and motorhomes are advantageous because they will ensure optimal flexibility with your travel schedule and areas you can visit. You can also save money during your trip since you will not need to rely on hotel accommodations. There are numerous types of RVs or motorhomes in the modern market. Choosing the right type to match your requirements can be challenging. Here is a short guide on the different types of recreational vehicles in the market to help you make the right decision.
Recreational vehicles are perfect for exploring the country in style. If you are thinking about touring, you should consider purchasing a luxury RV for your needs. Luxury RVs are ideal if you would like to avoid the inconvenience of moving around the country in planes, trains or cars. They are self-contained homes on wheels with all the necessary amenities. Also, travelling in an RV can save you a lot of money because you will not need to stop in hotels at night.
If you have been thinking about taking a road trip with your loved ones, you should consider purchasing a recreational vehicle and registering in Montana. In general, buying an RV is a financially significant decision for most individuals. Therefore, there are some factors that you should evaluate before the actual transaction. One of these aspects is the significant tax which is charged on motor homes and recreational vehicles in most states.
If you are planning on spending time traveling around the country and touring rodeos with your family or friends, you should think about getting a recreational vehicle or motor home. These types of automobiles are ideal for traveling in a group because of the total low costs, particularly in relation to accommodation. In addition, you will be able to visit numerous areas that would be difficult without the flexibility of owning a travel vehicle.
A limited liability corporation (LLC) is an excellent way to run a business with partners. Running such a firm in a no sales tax state such as Montana is a bonus. It will allow you to make purchases on big items such as vehicles without paying a sales tax. Montana is one of five states in the United States that have not implemented a sales tax, whereas most states have adopted this tax since the Great Depression. The following are the top 5 benefits of running an LLC without paying sales tax.
Montana has no sales tax. The law in Montana allows entities to register a sales tax-free automobile in the state. Montana law does not technically require shareholder agreements. The extent to which a small company is mandated to pay income tax in Montana depends on its income. For instance, a corporation pays double taxation—the company must pay corporate license tax (income tax) in Montana, as a legal entity and shareholders are required to pay personal income tax on dispersed dividends. A Montana LLC on the other hand only pays income tax.