Bill
LC 2678
Overview: Bill Number: LC 2678, Title: Generally revise tax laws, Status: (LC) Draft Died in Process, Introduced: December 11, 2024Purpose and Intent: The primary objective of this
Overview: Bill Number: LC 2678, Title: Generally revise tax laws, Status: (LC) Draft Died in Process, Introduced: December 11, 2024
Purpose and Intent: The primary objective of this bill is to undertake a comprehensive review and update of Montana's tax code to improve fairness, simplicity, and economic competitiveness.
Key Provisions:
- Reduce individual income tax rates across all brackets, with the top rate decreasing from 6.9% to 5.9%
- Increase the standard deduction and expand eligibility for certain tax credits and exemptions
- Modernize sales tax policies to capture revenue from online and remote transactions
- Provide targeted tax incentives for businesses investing in job-creating projects or clean energy initiatives
Affected Parties and Impacts:
- Individual taxpayers would see modest reductions in their state income tax liability
- Businesses would benefit from a more competitive tax environment and incentives for investment
- State and local governments could experience changes in revenue streams, requiring potential budget adjustments
- Consumers may see slight increases in sales tax obligations for certain online and remote purchases
Procedural and Timeline Considerations:
This bill was introduced in the Montana Legislature but did not advance past the initial drafting stage, known as the "LC" or "Legislative Council" phase. It died in the legislative process without being formally introduced as a numbered bill.
Compiled from official sources — confirm details with the bill’s official record.
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