MontanaMontana filers could claim a credit that shrinks as income rises
For tax years beginning after 2025, qualifying Montana filers could claim a one-time credit that shrinks as their taxable income rises.
What it does
Montana filers who qualify could claim a one-time credit based on taxable income and filing status. The credit shrinks as income rises and cannot exceed the tax owed.
Argument forEligible filers with lower taxable incomes could owe less Montana income tax through a credit that shrinks as income rises.
Argument againstBecause the credit cannot exceed tax owed or carry into another year, some eligible filers may be unable to use its full amount.
More detail
A qualified taxpayer could claim a one-time credit based on Montana taxable income and filing status. A qualified taxpayer is an individual who files a Montana income tax return. A person claimed as a dependent for that tax year and a trust are excluded. The credit starts at 4.7% and shrinks in steps as income rises; the income steps depend on filing status. It is unavailable above the applicable phaseout amount, cannot exceed tax owed, and cannot be carried to another year. The proposed act would apply to tax years beginning after December 31, 2025, and would take effect January 1, 2026.
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Where it stands
- Introduced
- Died
Looking ahead
No hearings or votes scheduled.
History
- 2025
- May 23(H) Died in CommitteeDied
- Apr 16(H) Tabled in Committee - (H) TaxationMinor
- Vote recorded to_table. Result: pass.Lower
- Apr 9(H) Hearing - (H) Taxation
- Apr 9(S) Revised Fiscal Note Printed
- Apr 8(S) Revised Fiscal Note Signed
- Apr 8(S) Revised Fiscal Note ReceivedMinor
- Apr 7(H) 1st Reading
- Apr 7(H) Referred to Committee - (H) TaxationMinor
- Apr 5(S) Transmitted to House
- Vote recorded Do Pass. Result: pass.Upper
- Apr 5(S) 3rd Reading
- Apr 5(S) Scheduled for 3rd ReadingMinor
- Apr 4(S) Committee Report - (S) Finance and Claims
- Vote recorded do_pass. Result: pass.Upper
- Apr 4(S) Committee Executive Action - (S) Finance and Claims
- Apr 3(S) Hearing - (S) Finance and Claims
- Vote recorded Do Pass As Amended. Result: pass.Upper
- Vote recorded AMD-SB0546.001.002 Fern D/PASS. Result: pass.Upper
- Apr 3(S) Rereferred to Committee - (S) Finance and ClaimsMinor
- Apr 3(S) 2nd ReadingMinor
- Apr 3(S) 2nd Reading Motion to AmendMinor
- Apr 3(S) Scheduled for 2nd ReadingMinor
- Apr 3(S) Take from Committee; Place on 2nd Reading - (S) TaxationMinor
- Apr 2(S) Tabled in Committee - (S) TaxationMinor
- Vote recorded Take SB 546 from Comm-Fern. Result: pass.Upper
- Vote recorded to_table. Result: pass.Upper
- Apr 2(S) Fiscal Note Printed
- Apr 1(S) Fiscal Note Signed
- Apr 1(S) Fiscal Note ReceivedMinor
- Mar 27(S) Hearing - (S) Taxation
- Mar 26(S) Referred to Committee - (S) TaxationMinor
- Mar 26(S) 1st Reading
- Mar 26(S) Fiscal Note Requested
- Mar 25(S) Introduced
- Mar 25(LC) Draft Delivered to Requester
- Mar 24(LC) Draft Ready for Delivery
- Mar 22(LC) Draft in Assembly
- Mar 22(LC) Draft in Final Drafter Review
- Mar 22(LC) Draft in Input/Proofing
- Mar 21(LC) Draft in Edit
- Mar 21(LC) Draft in Legal Review
- 2024
- Aug 27(LC) Drafter AssignedIntroduced
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