What is the Montana Earned Income Tax Credit?
The Montana Earned Income Tax Credit (EITC) is a tax benefit aimed at providing financial assistance to low and moderate-income individuals
The amount of the credit depends on various factors such as income earned and number of qualifying children. Generally, the credit is a percentage of the federal EITC, ranging from 3% to 6.5% of the federal credit amount. To qualify, individuals must meet certain income requirements and file a tax return.
The Montana EITC is designed to alleviate poverty and encourage work by providing additional financial support to those who need it most. It serves as an incentive to help working families and individuals keep more of their hard-earned income and improve their overall financial well-being....