And there’s a good reason for that…
Bloomberg recently ran an article about why so many supercars have Montana license plates, putting the article behind a paywall in hopes automotive enthusiasts would shell out for a subscription. The thing is the topic has been discussed before and while it’s certainly something interesting, Bloomberg is hardly the only one covering it. To help our readers decide if they need to jump on this trend, we’ve decided to shed even more light on a “legal loophole” some have decided to use.
Watch a Florida commissioner caught speeding in his Ferrari 458 Spider here.
Apparently, in states where taxes are enough to sink even the wealthy, those with resources and a lot to lose find a way around such crushing regulations. Who would’ve thought such a thing were possible? That’s right, affluent car collectors in places like California and New York have found a way to not pay out ridiculous sums of money just because they have a Ferrari LaFerrari, McLaren 720S, or Koenigsegg Agera.
These savvy people have decided to turn to Montana of all places to register their rides. It’s a trick owners of expensive RVs have apparently been using for some time. Big Sky Country doesn’t have sales tax of any kind, meaning your pricey supercar won’t cost you a smaller fortune which will go into state coffers.
That’s right, people in Montana believe in greater freedom from crushing taxes instead of funding all kinds of cushy government programs through your purchase of a Porsche 911 GT3. What they also believe is you don’t have to have your vehicle inspected in Montana.
Montana isn’t the only state where people don’t have to pay sales taxes on vehicle purchases. You can do the same thing in Oregon, Alaska, Delaware, and New Hampshire. When it comes to no vehicle inspections ever, even when a vehicle has been recently bought, only Alaska in addition to Montana requires none.
According to Doug Demuro, there are businesses operating in Montana which will help anyone register their vehicle in the state. It’s a nice little cottage industry for people wanting to duck the oppressive laws where they live.
The big question is why more enthusiasts don’t take advantage of this loophole? In part, it’s a money thing. Those businesses which take care of everything for you use a law firm for part of the work, and if you’ve ever had to hire an attorney you already know they’re not cheap. Plus, as Demuro points out, if you don’t carry a more exotic insurance policy, you might face some uncomfortable questions if you ever have to file a claim where you live. Those types of policies also aren’t as budget-friendly. But if you’re saving tens of thousands on taxes for your supercar, such expenses are negligible. The next time you attend an even where supercars are present, see if you spot any Montana license plates.
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