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MT SB203
Bill
Status
Failed
5/23/2025
Primary Sponsor
Michael Yakawich
Click for details
AI Summary
- Raises the threshold for Montana's higher 5.9% income tax rate from $41,000 to $200,000 for married joint filers, from $30,750 to $150,000 for heads of household, and from $20,500 to $100,000 for single filers
- Income below these new thresholds is taxed at the lower 4.7% rate instead of the higher 5.9% rate
- Applies the same bracket increases to net long-term capital gains taxation, raising thresholds for the higher 4.1% rate (lower rate is 3.0%)
- Creates a modified inflation factor using June 2024 consumer price index as the baseline, with annual inflation adjustments to brackets beginning in tax year 2026
- Takes effect immediately upon passage and applies retroactively to tax years beginning after December 31, 2024
Legislative Description
Revise income tax brackets to lower income taxes
Taxation--Individual Income
Last Action
(H) Died in Standing Committee
5/23/2025
Committee Referrals
Taxation4/4/2025
Finance and Claims3/31/2025
Taxation1/23/2025
Full Bill Text
No bill text available