Montana Public Radio

Legislative Fiscal Division

Individual income tax revenue forecast for the 2023 biennium as of March 19, 2021. Income tax is the state's largest revenue source.
Legislative Fiscal Division

Forecasters say Montana’s state revenues are getting a major boost from federal stimulus, and the health of state coffers is easier to estimate now than in the early days of the COVID-19 pandemic. Legislative fiscal analysts gave that update to lawmakers Friday

Hearing room at the Montana Capitol.
William Marcus / Montana Public Radio

Montana’s governor is calling this "Tax Reform Week." Gov. Greg Gianforte’s proposals to change a slew of tax policies for residents and businesses got their first hearing in the state Legislature. An income tax cut proposal received the most debate Thursday morning. 

Montana lawmakers in the Revenue Interim Committee reviewed revenue forecasts Thursday that will help guide state budget decisions during the 2021 legislative session.

In a year filled with economic uncertainty and a recession due to the coronavirus pandemic, state financial experts warn that some impacts to the state budget remain to be seen.

A recent Montana legislative report says tax revenue from oil and natural gas production is expected to drop more than 28 percent this fiscal year, which will impact state and county budgets.