Beginning January 3rd donors who support innovative education in public schools or private school scholarships can get dollar-for-dollar tax credits before a statewide $1 million cap is reached. Any Montana taxpayer estate or business may donate up to $200,000 for the Innovative Education Program tax credit or Student Scholarship Organization ...
Montana’s Annual Revenue Shows Significant Increases In Latest Fiscal Year
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...
Montana Reported $200 Million In Unpaid Taxes In 2020
According to estimates by the state Department of Revenue more than $219 million in federal income taxes owed by Montanans went unpaid in fiscal year 2020. Those unpaid taxes are part of a larger tax gap of the under-collections the U.S. Treasury Department estimates will short the U.S. government $7 trillion over the next decade. https://nort...