One of the few states in the union without a state-wide sales tax is Montana. Montana is not immune from paying state income tax, though. In Montana, the state income tax is progressive, which means that the more money you make, the higher the tax rate you’ll have to pay.
The top state income tax rate, which is 6.9%, is applied to income over $18,400 and ranges from 1% to 6.9% in the state. The state’s tax rates are updated each year to account for inflation. Every year, April 15th is the deadline for Montana residents to file their state tax returns, unless that day falls on a weekend or holiday in which case the deadline is extended to the next working day.
You must go to your neighborhood Montana Motor Vehicle Division (MVD) office if you are a new resident of Montana and need to register your vehicle. You will want your driver’s license, evidence of insurance, the car’s title, and registration in order to register your vehicle. Additionally, there is a registration charge that depends on the age and value of the car. Emissions testing and vehicle safety inspections are not necessary in Montana.
You might think about setting up a limited liability company (LLC) if you want to launch a business in Montana. You must submit articles of incorporation to the Montana Secretary of State’s office in order to establish an LLC there. The name of the LLC, the name and address of the registered agent, and the names and addresses of the LLC’s members must all be listed in the articles of organization. The articles of organization must be filed for a charge of $70.
You might not require a business license if you operate as a sole owner in Montana. But other occupations are subject to state regulation, and those professionals need a license in order to work in Montana. Real estate agents, architects, and accountants are a few examples of regulated professions.
A certificate of existence, also known as a certificate of good standing, is a record that attests to the fact that a business organization is registered with the Montana Secretary of State’s office and is in good standing. When requesting loans, licenses, and permits for businesses, this certificate might be necessary. For a charge of $15, you can get a certificate of existence from the Montana Secretary of State’s office.
As a result, although Montana levies a state income tax, the state does not impose a uniform sales tax. If you’re a new resident of Montana, you must register your vehicle with the MVD. If you’re starting a business there, you might want to think about forming an LLC. Even while sole owners would not require a company license, the state does regulate some occupations. Last but not least, when asking for business loans, licenses, and permissions, a certificate of existence can be necessary.
You could require a certificate of existence from the Montana Secretary of State’s office if you run a business there. This certificate attests that your company is legitimately registered and permitted to operate in Montana. For the purposes of Montana’s state income tax, an existence certificate is not necessary if you are an individual taxpayer.