-The State of Montana has both personal and business income tax, but does not have any sales tax.
The state of Montana does have an individual income tax. Like most states with income tax, it is calculated on a marginal scale with multiple brackets (7). The tax rates range from between 1.00% to 6.90% for 2020. The highest bracket starts at $18,400.
The state of Montana has a flat Corporate income tax rate of 6.75% on all income on C Corporations. For other businesses that flow-thru entities, such as S Corporations, Partnerships, LLCs, etc., they are taxed at the individual income tax rates that range from 1.00% to 6.90%.
The average property tax rate for residential property in the state of Montana is 0.76%. Which puts it below the national average of 1.05%.
Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three:
Montana is one of the least expensive states in the country to open an LLC. Here are some important facts: