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According to the Legislative Services Division, with four months of taxes collected, the outlook for Montana’s finances in the new fiscal year looks rosy. Individual income tax, which made up 59% of the state’s nearly $3 billion in general fund revenue in the 2021 fiscal year that ended June 30, is 12.5% higher than it was at this point a year ago. Corporate income tax collections were up 37.4% compared with the same period last year. Tuesday, the Legislature’s Revenue Interim Committee was told that the previous year’s revenue was already significantly above-average.
