Now that all bills have been introduced, the next major deadline is the day for bills to pass their house of origin – “cross-over day.” Cross-over day for non-appropriation bills in February 23. The coming…
On a 6-5 vote Thursday, a Senate committee advanced a dramatic re-write of the state s income tax laws.
Senate Bill 399 is from Sen. Greg Hertz, R-Polson. It s similar to a 2015 bill from another Republican Flathead lawmaker, former Sen. Bruce Tutvedt. That bill cleared the Legislature but was vetoed by the former Democratic governor. For years our Montana tax code s been loaded with special interest credits (and) deductions, so to me it s time to broaden the base and simplify our process, Hertz told the Senate Taxation Committee.
The bill would cut the state s income tax brackets from seven to two, and set their tax rates at 4.7% for the lower tier and 6.5% for the upper. It would also eliminate several individual and corporate income tax credits.
GOP lawmaker introduces new state income-tax overhaul kpax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kpax.com Daily Mail and Mail on Sunday newspapers.