Registering a Business in Montana
To register a business in Montana, first choose an appropriate name. Then set up the best legal structure for your enterprise. Finally, submit the paperwork to the Secretary of State.
Business Structures and Costs
The cost to register depends on your structure. For example, filing an LLC costs $70. LLCs and corporations limit owners’ personal liability. Sole proprietorships don’t.
You may need licenses and permits too. Requirements vary by city. If operating in multiple cities, apply in each one.
Despite small population, Montana attracts opportunity. Industries like agriculture and tourism thrive. The tax climate is business-friendly too. For example, there’s no state sales tax.
Consider working with an accountant. They determine taxes by filing returns. Costs range from $300 to $900 depending on complexity.
Overall costs to form an LLC are low. The filing fee is $35 online. You’ll also need a registered agent and annual report filing for $20 per year.
The process can seem difficult since Montana lacks a general business license. But specialty licenses exist for most professions. We can identify all licenses needed to avoid compliance issues.
Starting Your LLC
How much does an LLC cost in Montana?
To form an LLC in Montana, choose a name, select a registered agent, and file articles of organization. You will also need to pay a $70 filing fee.
As an LLC, your business debts and taxes are separate from your personal assets, offering liability protection. Profits and losses are reported on the owners’ tax returns.
To stay compliant, file annual reports, keep your registered agent updated, and maintain records.
Forming an LLC makes it easier to open business bank accounts, hire employees, and enter contracts. Follow the right steps to start your Montana LLC with confidence.
While not required, having a clear business plan can guide decisions for your new LLC. After forming, you can change the LLC’s name or structure if needed.
Consider the tax implications when forming an LLC. Montana LLCs are pass-through entities, so profits/losses are reported on owners’ tax returns.
A professional LLC (PLLC) requires at least one approved member to perform professional services. Montana allows single-member LLCs with just one owner.