Montana’s state earnings tax relies on a graduated tax system, which implies you’re topic to tax brackets the place your tax price will increase as your earnings will increase. Elements comparable to your submitting standing, earnings stage, and residency decide how a lot you’ll pay in taxes.
For the 2024 tax yr (the return you file in 2025), Montana’s Earnings Tax Simplification invoice launched updates aimed toward streamlining calculations and making certain equity for taxpayers throughout the state.
This information will stroll you thru what it’s essential know to confidently file your Montana state earnings taxes in 2025, together with the state’s tax charges and obtainable deductions and credit.
*Notice you’re nonetheless answerable for federal taxes in the event you meet the IRS earnings submitting threshold. This text addresses state-specific taxes solely.
Montana state earnings tax charges
Montana’s graduated system entails tax charges of 4.7% and 5.9%. Taxpayers with decrease taxable incomes are topic to the 4.7% price, whereas increased earners fall into the 5.9% bracket. These charges apply to all earnings earned throughout the Treasure State, together with wages, investments, and enterprise earnings.
Montana state taxes for the 2024 tax yr (filed in 2025) are due by April 15, 2025. Submitting early helps keep away from penalties and offers you peace of thoughts figuring out your taxes are full.
The desk beneath breaks down how Montana state earnings tax charges apply based mostly on submitting standing and taxable earnings:
Submitting standing Taxable earnings (with out web long-term capital features) Tax price Single Married submitting individually $0 to $20,500 4.7% Greater than $20,500 5.9% Head of family $0 to $30,750 4.7% Greater than $30,750 5.9% Married submitting collectively Certified surviving partner $0 to $41,000 4.7% Greater than $41,000 5.9%
Supply: Montana Division of Income
What’s the commonplace deduction in Montana?
Montana not affords a separate state-specific commonplace deduction. As an alternative, your Montana taxable earnings begins along with your federal taxable earnings as a base.
Nonetheless, Montana offers particular deductions, comparable to a $5,500 exemption for taxpayers aged 65 and older and a $4,500 deduction for contributions to a medical financial savings account (MSA).
Who has to file Montana state earnings tax?
Montana state earnings tax submitting necessities rely in your residency standing (resident, part-year resident, or nonresident), adjusted gross earnings (AGI), and submitting standing.
Usually, you will need to file a Montana state return if through the tax yr, you have been a resident or part-year resident of Montana, or a nonresident who acquired earnings from Montana sources, and your federal gross earnings, excluding unemployment compensation, meets the state’s submitting threshold. Even in the event you’re not obligated to file federally however have a Montana addition or subtraction to your earnings, you could have to file a state earnings tax return.
In line with the state’s 2024 particular person earnings tax directions, Montana’s tax submitting necessities for earnings observe federal tax submitting necessities after contemplating any Montana additions and subtractions to federal taxable earnings. For 2024, the federal gross earnings thresholds for submitting are:
Submitting standing Age Gross earnings threshold Single Underneath 65 $14,600 65 or older $16,550 Married submitting collectively Each underneath 65 $29,200 One partner 65 or older $30,750 Each 65 or older $32,300 Married submitting individually Any age $5 Head of family Underneath 65 $21,900 65 or older $23,850 Qualifying surviving partner Underneath 65 $29,200 65 or older $30,750
Supply: Inner Income Service
Nonetheless unsure whether or not you need to file a Montana state earnings tax return? Don’t fear. TurboTax can information you thru each step of the method and enable you decide whether or not it’s essential file. And skilled assistance is all the time obtainable.
How Montana residency impacts tax submitting
Montana state earnings tax submitting depends on three residency statuses: resident, part-year resident, and nonresident. Every standing determines how your earnings is taxed and the types you will need to file.
Residents should report all earnings, whereas part-year and nonresidents solely report earnings sourced from Montana. The desk beneath breaks down Montana’s residency statuses and the way they influence state earnings tax submitting:
Residency standing Definition How Montana taxes earnings Resident You lived in Montana for all the tax yr, or Montana is your everlasting house. Montana taxes all earnings earned in and outdoors the state. Half-year resident You lived in Montana for a part of the tax yr and established residency or moved out of the state. Montana taxes earnings earned whereas a resident and any Montana-sourced earnings earned whereas a nonresident. Nonresident You lived outdoors Montana through the tax yr however earned earnings from Montana sources. Montana solely taxes earnings earned from Montana sources.
Different earnings tax issues in Montana
Montana taxes several types of earnings in distinctive methods, providing particular exemptions and decrease tax charges in some circumstances. Under is a breakdown of how varied earnings sorts are handled:
Retirement and pension earnings tax
Taxed as unusual earnings. Taxpayers aged 65 and over obtain a $5,500 subtraction from federal taxable earnings.
Funding earnings tax
Capital features are taxed at a decrease price than unusual earnings. This desk breaks it down:
Submitting standing Web long-term capital features Tax price Single and married submitting individually First $21,100 of capital features minus Montana unusual earnings 3% Web long-term capital features that exceed $20,500 minus Montana unusual earnings 4.1% If Montana unusual earnings exceeds $20,500 4.1% Married submitting collectively and certified surviving partner First $42,200 of capital features minus Montana unusual earnings 3% Web long-term capital features that exceed $41,000 minus Montana unusual earnings 4.1% If Montana unusual earnings exceeds $41,000 4.1% Head of family First $31,700 of capital features minus Montana unusual earnings 3% Web long-term capital features that exceed $30,750 minus Montana unusual earnings 4.1% If Montana unusual earnings exceeds $30,750 4.1%
Supply: Montana Division of Income
Social Safety earnings tax
Taxed the identical because the federal stage.
Navy earnings tax
Lively-duty and fight pay is exempt. Nonresidents stationed in Montana file provided that they earn civilian earnings. Navy retirement pay is taxable in Montana; nevertheless, starting with tax yr 2024, Montana resident navy retirees working within the state could also be eligible for an exemption of a part of their navy retirement earnings.
Native American earnings taxes
Enrolled tribal members dwelling on their reservation can take exemptions on particular earnings.
Speak to a tax skilled free of charge
Do you could have tax questions? Get solutions from considered one of our tax consultants. Specialists obtainable 5am – 8pm PST – 7 days every week
Widespread Montana state earnings tax credit
Montana affords a number of deductions and credit to assist cut back your taxable earnings or immediately decrease your tax invoice. Under is a abstract of key choices:
Tax credit score Description Quantity Credit score for Earnings Taxes Paid to One other State Offsets taxes paid to different states to keep away from double taxation. Equal to taxes paid within the different state. Notice: Montana and North Dakota have a reciprocal settlement. Modern Academic Program Tax Credit score Credit score for donations to modern academic applications in Montana public college districts. As much as $200,000 on a first-come, first-serve foundation till annual credit score threshold is met. Montana Adoption Credit score Credit score for households who’ve just lately adopted youngsters. Should declare credit score for the tax yr when adoption was finalized. $5,000 per eligible youngster or $7,500 per eligible youngster in foster care at time of adoption. Montana Aged Home-owner/Renter Credit score Credit score for low-income aged taxpayers for hire or property taxes paid. Refundable credit score as much as $1,150. Montana Earned Earnings Tax Credit score (EITC) Refundable credit score aimed to assist low and middle-income employees 10% of federal EITC; most federal credit score is $7,830 for 2024 tax yr. Certified Endowment Credit score Nonrefundable credit score for charitable donations to qualifying Montana endowments. 40% of the donation’s worth, as much as $15,000 for people. 20% of the donation’s worth, as much as $15,000 for firms, partnerships, and estates. Scholar Scholarship Group Tax Credit score Credit score for donations to qualifying scholar scholarship organizations (SSOs). As much as $200,000.
The right way to file Montana state earnings tax
Submitting your Montana state earnings taxes can really feel overwhelming, however you don’t need to do it alone. Whether or not you’re a resident, part-year resident, or nonresident, TurboTax is right here to assist. We make sure you get each deduction and credit score you’re eligible for therefore you may preserve extra of your hard-earned cash.
TurboTax Full Service additionally offers skilled steerage, making tax submitting clean and stress-free. Need personalised assist? Join with a neighborhood Montana tax skilled who can put together your taxes from begin to end. Whether or not you do your taxes your self or work with an skilled, we’ll enable you maximize your Montana state tax refund.
Begin your tax return right now with TurboTax and file with confidence.
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