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.
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 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.
Are you thinking about how you can avoid the 6% or more sales tax on your RV registration in your state? Well, the answer may be a Montana LLC. By registering your RV under a Montana LLC, you save lots of money on licensing fee, taxes an inspection fee. Although some people tend to think that it's a form of tax evasion, the Federal law doesn't prohibit a citizen from setting up an LLC anywhere. Let us have a look at how it is done and some of its benefits.
It can be about summer fun USA all year long while doing business in the great state of Montana. Montana is one of the few states besides Alaska, Oregon, Delaware and New Hampshire in the USA today without a general sales tax. The objective is to make it cheaper for people to purchase products. The state relies on income taxes to counter balance its budget to run its affairs. This means with an LLC in Montana you can save on your summer toy purchases all year long!
If you live in California costs are higher because of the state's sales tax of 7.25%, depending on where you reside some local municipalities tax rate can be as high as 9.75%. Residents may not notice how much taxes they pay when they regularly shop for groceries, but it becomes painfully noticeable when you buy a high-end vehicle. A car that costs $100,000, for example, will generate a sales tax of over $7,000 with high registration and license plate fees tacked on. Here's how you can bypass the California sales tax on moveable property by setting up a Montana LLC.