The Montana state tax system has earned a place on the Tax Foundation's business-friendly list, proving how well the Montana tax structure encourages investing in the area. A variety of Montana state tax credits are available as an added incentive. Local development organizations can direct you to local tax incentives available in your metropolitan area.
If you are thinking about starting a business, research the Montana state tax filing requirements and start collecting the Montana state tax forms you will need. Montana tax information is readily available and can help you navigate through your business start-up. Which Montana taxes are of prime importance to your new business venture?
1. Montana individual income tax - withholding tax
2. Corporate tax in Montana
3. Montana property taxes
4. Sales tax - Montana has no general sales or use tax
Action Steps
The best contacts and resources to help you get it done
Go to the source for Montana state tax information
The Montana Department of Revenue website offers online Montana tax filing and loads of tax information.
I recommend: Visit the
Department of Revenue site to pay
business taxes, find
corporate income tax forms and more.
Know your Montana tax filing requirements for withholding tax
As an employer, you are required to withhold Montana state tax from wages you pay your employees. The amount of Montana taxes withheld depends on the length of your pay cycle, the employee's gross pay, and the number of allowances claimed on the W-4 form. However, certain services and types of compensation are exempt from withholding.
I recommend: The
Montana Employers' Tax Guide provides detailed information regarding withholding Montana state tax and Montana tax filing. The guide also directs you to the Montana state tax forms that you must submit.
Compare corporate tax rates across the country
Montana tax resources define the corporation license tax as a Montana state tax imposed on corporations for the privilege of doing business within the state. Calculated on net income earned in the state, the Montana state tax rate is 6.75%, with a $50 minimum tax.
I recommend: To see how Montana stacks up against the rest of the states, review the
State Corporate Income Tax Rates summary.
Analyze how local Montana taxes affect your property tax liability
Household goods are exempt; however, property taxes are levied against all other types of real property. Computations are based on class of property, tax rate, and formulas established by the state legislature. In addition, local governments establish the mill levy requirements for each taxing jurisdiction. Those local Montana taxes also figure into the property tax liability.
I recommend: There are a number of property tax
abatements and incentives to reduce your overall property tax liability.
Tips & Tactics
Helpful advice for making the most of this Guide
- Make a point of contacting the Montana Department of Revenue. The website consolidates Montana state and local tax resources to help you find a wide variety of tax incentives, credits, and Montana tax refunds to decrease your tax burden.
The official source of Montana State and Local Tax Resources is
the Montana State and Local Tax Resources page at Business.com
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