Montana 6th Best on Business Taxes? The Tax Foundation Thinks So

Montana has the 6th best tax climate in the U.S. That is according to the latest edition of the State Business Tax Climate Index, released this morning by the nonpartisan Tax Foundation.

The Index measures how well structured each state’s code is by analyzing over 100 tax variables in five different categories: corporate, individual income, sales, property, and unemployment insurance taxes.

“This is yet another sign of all of the benefits of doing business in Montana,” Gov. Steve Bullock said. “This report shows that in addition to the highly-trained workforce, and unmatched quality of life, Montana also offers new and existing businesses a climate that will allow them to thrive.”

 

Through his Main Street Montana Project, Bullock has made it a priority to create a climate that attracts, retains, and grows businesses. To this effort, Bullock has:

·         Cut taxes for every Montana business, and eliminated the business equipment tax for two-thirds of companies
·         Secured $45 million for workforce development partnerships to meet the needs of private businesses
·         Froze tuition at Montana colleges and universities, and made historic investments in K-12 education

Montana’s unemployment rate has dropped 1.2 percent in the last 20 months, with 2014 seeing historic job creation.

The breakdown of Montana’s ranking this year is as follows (1st best, 50th worst):

Montana’s overall State Business Tax Climate ranking: 6th
Corporate tax structure: 18th
Individual income tax structure: 20th
Sales tax structure: 3rd
Property tax structure: 8th
Unemployment insurance tax structure: 18th

Do the above numbers resonate with your Small Business or you personally?

Read The Full Report Here