Are there any tax credits or deductions specific to Montana?

Asked a year ago
Yes, there are several tax credits and deductions specific to Montana. Some common credits include the Montana Elderly Homeowner/Renter Credit, which provides a refundable credit to eligible elderly individuals who pay property taxes or rent in Montana. Another is the Montana Net Operating Loss Deduction, allowing businesses to carry forward or backward net operating losses for up to 20 years to claim deductions against future or past income. Additionally, there is the Montana Collegiate Student Credit, which allows contributors to receive a tax credit for donations made to the Montana University System. These are just a few examples of the various tax credits and deductions that Montana offers. For more specific information and eligibility criteria, please refer to the Montana Department of Revenue's official website or consult a tax professional.
Christian Allen is the editor / author responsible for this content.
Answered May 3, 2024

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