I purchased a MSP in my name in Missouri. I have an LLC and a registered agent to accept my mail in Montana, although I don't do any business there currently.
There is no sales tax in MT, but in MO after local taxes it's over 9%, which is annoying I have to pay an extra 5% county and city tax on a car that I literally drive all over the state and out of state.
I have not yet registered the car as in MO you do not pay tax to the dealer (yes, I know Tesla isn't even a dealer), but to the DMV when you register it.
I have been considering "selling" the car from myself to my LLC then registering it in Montana to avoid paying the tax.
I know you can't do this once the car has been titled as this is called "title jumping" and is a felony. I.e., unless you are a licensed dealer, if you want to flip a car you actually have to title it in your name and pay tax on it first before you sell it.
However, this is a brand new car from Tesla, and I don't have a title, just a MCO (manufacturer's certificate of origin). So the question is, even though Tesla gave me MO temp tags and pre-filled out paperwork to take to the MO DMV, can I just create a bill of sale from myself to my LLC and initially title it in MT, or is this also considered title jumping and is illegal?
Because the car was purchased in MO, do I still legally owe tax on it in MO even if I title it in another state?
There is no sales tax in MT, but in MO after local taxes it's over 9%, which is annoying I have to pay an extra 5% county and city tax on a car that I literally drive all over the state and out of state.
I have not yet registered the car as in MO you do not pay tax to the dealer (yes, I know Tesla isn't even a dealer), but to the DMV when you register it.
I have been considering "selling" the car from myself to my LLC then registering it in Montana to avoid paying the tax.
I know you can't do this once the car has been titled as this is called "title jumping" and is a felony. I.e., unless you are a licensed dealer, if you want to flip a car you actually have to title it in your name and pay tax on it first before you sell it.
However, this is a brand new car from Tesla, and I don't have a title, just a MCO (manufacturer's certificate of origin). So the question is, even though Tesla gave me MO temp tags and pre-filled out paperwork to take to the MO DMV, can I just create a bill of sale from myself to my LLC and initially title it in MT, or is this also considered title jumping and is illegal?
Because the car was purchased in MO, do I still legally owe tax on it in MO even if I title it in another state?