taxes

Gov. Greg Gianforte Wednesday signed into law a significant increase to a tax credit for donors to school choice scholarship programs. The program benefits both public and private schools, but the bill eases restrictions on what private schools are required to do in order to receive funding. 

Funding for projects to expand high-speed Internet across Montana is moving forward under a bill signed by Republican Gov. Greg Gianforte.

Montana Republican Gov. Greg Gianforte signed two bills into law Thursday to simplify the state’s income tax code while also cutting the top marginal rate. Gianforte was joined by Republican lawmakers to sign the bills at a manufacturing business in Kalispell. 

Republican Gov. Greg Gianforte has signed a bill into law to increase the tax exemption on business equipment up to $300,0000. 

Gov. Greg Gianforte signed several bills into law this week, including policies to end same-day voting registration and change voter ID requirements; limit local public health powers; expand telehealth access; give businesses tax breaks for vocational training; allow insurance companies to consider gender when setting rates; address the issue of missing and murdered Indigenous people; and update state laws after federal recognition of the Little Shell Tribe of Chippewa Indians.

Republicans in the Montana House of Representatives have advanced a bill to increase the tax credit residents can claim for donations that help pay student tuition at private schools. The proposal follows a U.S. Supreme Court decision ruling that Montana can’t exclude religious schools from the tax credit program.

Republicans in the state Senate have advanced a bill to simplify the state's income tax code from seven tax brackets to two.

The proposal would tax the first $20,500 Montanans make at 4.7% and income above that at 6.5%. That would compare to Montana’s current system in which the top marginal income bracket taxes people making over around $19,000 a year at 6.9%

Montana has joined 31 other states in suing the U.S. Treasury Department over a provision that bars states from using federal stimulus dollars to offset tax cuts.

Montana is set to see roughly $3 billion in federal stimulus funds through the American Rescue Plan Act with the stipulation that the money can’t be used to offset revenue reductions caused by tax cuts.