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Helena - The Montana Department of Revenue would like to remind owners of real and personal property about these upcoming important deadlines: April 15 • Property Tax Assistance Program The Property Tax Assistance Program (PTAP) provides property tax relief to anyone who meets the qualifications and there is no age restriction. To qualify for this program, taxpayers must own and occupy their home as their primary residence and meet the income requirements which range up to $23,385 for a single person and up to $31,181 for households with m...
Helena - The Montana Department of Revenue has an important message to income tax filers: Keep your mailing address current with the department. This is especially true for anyone filing a Montana income tax return for the first time. That’s because the department sends refunds to first-time filers only as paper checks – not by direct deposit – due to our security measures to combat fraud. And, the Post Office will not forward your refund check to your new address. That means that if the department has an incorrect address, your refund could...
HELENA – The Montana Department of Revenue would like to remind owners of real and personal property about these upcoming important deadlines: March 1 • Personal Property By March 1, business and industrial equipment owners are required to report their personal property online with the department’s TransAction Portal (TAP) at https://tap.dor.mt.gov. Businesses have a statutory reporting requirement if their total statewide aggregate market value of equipment is over $300,000. Businesses whose statewide aggregate market value is $300,000 or less...
Helena - The 2021 Legislature passed House Bill 303, changing how Montana taxes business equipment. The new law increases the business equipment tax exemption from $100,000 to $300,000 for Tax Year 2022. Businesses whose statewide market value of equipment is $300,000 or less are exempt from the business equipment tax. These businesses will not have a reporting requirement in 2022 unless: (1) they have acquired new personal property that would increase their equipment’s aggregate market value above the exemption amount; or, (2) the d...
