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House Taxation training: SB 399 changes income tax base, filing status and many deductions
Summary
Chair Fielder convened a House Taxation Committee training on income tax policy in which Legislative Fiscal Division staff outlined structural changes to Montana individual income tax that took effect for tax year 2024.
Chair Fielder convened a House Taxation Committee training on income tax policy in which Legislative Fiscal Division staff outlined structural changes to Montana individual income tax that took effect for tax year 2024.
The training focused on Senate Bill 399 and related statutory changes. Staff said the most important shifts are a move from starting Montana calculations with federal adjusted gross income to starting from federal taxable income, and a change from a single statewide rate schedule to separate rate schedules by filing status (single, head of household, married filing jointly). "We are now linking to federal taxable income," the presenter…
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