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Montana State Tax Updates

For the latest news and updates on Montana state and local tax

May 13, 2021

Montana on Cusp of Enacted Double-Weighted Sales Factor Formula for Corporate Income Tax 

On April 22, 2021, Montana legislature passed senate bill 376, which would change the Corporate Income Tax apportionment formula from an equally weighted three-factor formula (i.e., property factor, plus the payroll factor, plus the sales factor and a denominator of three) to a double-weighted sales factor formula (i.e., property factor, plus the payroll factor, plus two times the sales factor and a denominator of four). If enacted, the new apportionment formula would be effective for tax years beginning after June 30, 2021.

March 23, 2021

Individual Taxpayers Deadline

The Montana Department of Revenue has announced that Montana Governor Greg Gianforte has extended the filing and payment deadlines for 2020 Montana individual income tax returns to May 17, 2021. The governor explained that it was appropriate to extend the deadline without having taxpayers worry about interest and penalties, and the new May 17, 2021 deadline follows the new federal filing deadline of May 17, 2021 which was announced on March 17, 2021. The Department also noted that quarterly estimated payment deadlines for 2021 income taxes have not changed. ( Governor Gianforte Extends Tax Filing Deadline to May 17, Mont. Dept. Rev., 03/18/2021 .)

April 1, 2020

Individual Taxpayers Deadline

The filing date for individual income taxpayers has been extended to July 15, 2020.

More on Taxes and the Coronavirus Pandemic.

Disclaimer: Please note this is the information that is readily available at this time, it is subject to change so please consult your Withum tax advisor.

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