Changes Made To Business Equipment Reporting Requiremenr
The 2023 Legislature passed House Bill 212, changing how business equipment is taxed in Montana. The new law increases the business equipment tax exemption from $300,000 to $1 million for tax year 2024. Businesses whose statewide market value of equipment is $1 million or less are exempt from the business equipment tax. These businesses do not have a reporting requirement in 2024 unless: (1) they
