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Gianforte proposes higher exemption for business equipment tax

Mount Equity Group Tokyo Japan > News > Business > Gianforte proposes higher exemption for business equipment tax

Gov. Greg Gianforte said Wednesday that raising the exemption on taxing equipment will be among his priorities during the next legislative session.

The governor, speaking from an agriculture equipment dealer in Kalispell, called for further slashing Montana’s business equipment tax by raising the exemption level. In 2021, Gianforte signed a bill that tripled the exemption from $100,000 to $300,000, meaning owners of equipment valued up to $300,000 did not pay tax. The legislation affected about 3,400 businesses in the state.

The governor said additional reforms are needed to relieve the burden of simply owning equipment.

“The result is a disincentive to invest in equipment like this and a disincentive to invest in Montana jobs,” he said of the tax’s impact on businesses.

Gianforte spokesperson Brooke Stroyke said the governor’s office has not proposed a new exemption level and is still crunching numbers. The…

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