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MT SB323
Bill
Status
Failed
5/23/2025
Primary Sponsor
Joshua Kassmier
Click for details
AI Summary
- Reduces Montana's top marginal individual income tax rate from 5.9% to 5.4% for tax year 2026, then further to 4.9% for tax years beginning after December 31, 2026
- Lowers the top tax rate on net long-term capital gains from 4.1% to 3.9% for all filing statuses
- Increases the state earned income tax credit from 10% to 15% of the federal earned income tax credit amount, effective for tax years beginning after December 31, 2025
- Maintains existing tax bracket thresholds: $41,000 for married joint filers, $30,750 for heads of household, and $20,500 for single filers and married filing separately
- Lower bracket rate of 4.7% and capital gains lower bracket rate of 3.0% remain unchanged
Legislative Description
Revise individual income tax rates and earned income credit
Taxation--Individual Income
Last Action
(S) Died in Process
5/23/2025
Committee Referrals
Taxation2/14/2025
Full Bill Text
No bill text available