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House committee considers raising business equipment exemption; proponents cite relief for small contractors, opponents warn of property tax shifts
Summary
House Bill 8 44 would raise the exemption threshold for Class 8 business equipment and exempt items under $250, a change proponents said would ease compliance and help small contractors while opponents warned it would shift property tax burdens to homeowners and schools.
Representative Mike Vinton opened the hearing on House Bill 8 44, which would increase the exemption threshold for Class 8 business equipment and exempt items under $250 from taxation. "House Bill 8 44 builds on the progress that was made in 2021 on the business equipment tax," Vinton said, and described the measure as intended to let businesses keep more capital invested locally.
Several business groups and trade associations testified in support. Bob Story of the Montana Taxpayers Association said his organization favors eliminating the tax but supports the bill as a step; he provided committee handouts and estimated only about 955 businesses…
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