Loophole

Gavin Newsom closes Montana LLC’s tax loophole for luxury cars

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Gavin Newsom closes Montana LLC's tax loophole for luxury cars

California is tightening the question of a tax strategy that has saved some luxury car owners tens of thousands of dollars by registering their vehicles with shell companies in Montana. A $600,000 Lamborghini owner boasted that he saved $70,000 from the deal, but California has now decided to end that strategy, estimating that the state … Read more

Californians caught using the ‘Montana Loophole’ to avoid supercar sales tax — and Beverly Hills is the worst

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Californians caught using the 'Montana Loophole' to avoid supercar sales tax — and Beverly Hills is the worst

California has launched a huge crackdown on criminals buying and registering supercars out of state in order to avoid a dramatic sales tax. Fourteen people have been charged after $20 million worth of vehicles were transferred to the Big Sky State in what authorities call the “Montana Fault.” California has launched a huge crackdown on … Read more