Is Montana Expensive to Live In?

The gorgeous state of Montana is renowned for its breathtaking scenery, outdoor leisure options, and welcoming villages. But is Montana a reasonable place to live in terms of costs of living? Like most things, the answer is complex and depends on a number of variables.

Overall, Montana has a slightly higher cost of living than the rest of the country. Particularly housing costs might be quite high. Zillow data show that Montana has a median house value of $296,917, which is higher than the $269,039 national median. The average monthly rent for a two-bedroom apartment in Montana is $1,049, which is lower than the national average of $1,192. Rent costs are nonetheless more affordable.

Taxes are a different consideration. Although the top income tax rate in Montana is very low—6.9%—the state does impose a sales tax. However, Montana’s sales tax is relatively small and only applies to a limited range of items, unlike most states. For instance, there is no sales tax on food, medicine, or medical supplies. Therefore, even though you might need to pay sales tax on some goods, this is less of a burden than it might be in other jurisdictions.

In addition, you should be informed that there is a sales tax applicable to automotive purchases in Montana. Depending on where you live in the state, the tax rate might range from 0% to 3%. In contrast to other jurisdictions, Montana does not impose an annual vehicle tax or fee, which can result in cost savings.

Let’s now discuss the further linked questions. If you’re launching a company in Montana, you might be considering an LLC name. The state of Montana has particular requirements for naming your LLC, including that it contain the words “Limited Liability Company” or an acronym like “LLC.” Additionally, you must confirm that no other company in the state is already using your name and that it is original. It’s usually a good idea to speak with a lawyer or business counselor if you’re unclear of the procedure.

Last but not least, you might be debating between ZenBusiness and LegalZoom if you need assistance forming an LLC. Both businesses provide LLC creation services, but there are certain distinctions to take into account. ZenBusiness is well-known for its top-notch customer support and dedication to social responsibility. In comparison to LegalZoom, they also provide more cheap pricing alternatives. On the other side, LegalZoom has a larger customer base and has been operational for a longer time. They provide a larger range of services, such as legal document evaluation and trademark registration. In the end, your needs and financial situation will determine which of these two businesses you choose.

Since ZenBusiness is a privately held firm, its ownership is not made known to the general public. However, Ross Buhrdorf, who is also credited with co-founding the well-known vacation rental website HomeAway, started it in 2015.

In conclusion, Montana is neither the cheapest but also not the most costly state to live in. Even though housing costs can be rather high, rental rates are fair. Although there is a sales tax in the state, it is quite small and does not apply to necessities like groceries and prescription medications. If you’re forming a business in Montana, be sure to name your LLC in accordance with state regulations, and think about hiring a service like ZenBusiness or LegalZoom to assist you.