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Gov Signs Business Equipment Tax Exemption Into Law

Gov. Signs Business Equipment Tax Exemption Into Law Republican Gov. Greg Gianforte has signed a bill into law to increase the tax exemption on business equipment up to $300,0000.  The BIG Jobs Act, or Business Investment Grows Jobs Act, is projected to exempt 4,000 more businesses from having to pay taxes on equipment purchases with the increased exemption limit.  The bill was one of a slate of tax reductions proposed by the Gianforte administration with the aim of boosting economic development in Montana.  The business equipment tax cut policy will have the state allocate general fund dollars to local governments to offset the losses in funding for schools caused by decreased tax revenue. 

Montana Ag Network: Montana governor promotes Big Jobs Act and Ag

Montana Ag Network: Montana governor promotes Big Jobs Act and Ag and last updated 2021-03-08 11:45:52-05 Montana’s equipment tax for small businesses is being reevaluated this legislative session. The new legislation in Helena could be more beneficial to small businesses, including farms and ranches. Sponsored by Rep. Josh Kassmier (R-Fort Benton), the Big Jobs Act, or Business Investment Grows Jobs Act, doubles the business equipment tax exemption in Montana from $100,000 to $200,000. Last week, Gov. Gianforte visited the Hayhook Ranch south of Clyde Park to discuss how farmers and ranchers may benefit from the legislation. “For all these businesses, whether it s a contractor, or a rancher, that money is going to be available to invest back into their businesses,” said Gov. Gianforte as he stood in front of a John Deere tractor. “That then ripples through the community and helps the other Main Street businesses that are supplying services.”

Montana Ag Network: Gov Gainforte promotes Big Jobs Act and Ag

Montana Ag Network: Governor promotes Big Jobs Act and Ag Montana’s equipment tax for small businesses is being reevaluated this legislative session. By: Lane Nordlund and last updated 2021-03-08 13:21:23-05 Montana’s equipment tax for small businesses is being reevaluated this legislative session. The new legislation in Helena could be more beneficial to small businesses, including farms and ranches. Sponsored by Rep. Josh Kassmier (R-Fort Benton), the Big Jobs Act, or Business Investment Grows Jobs Act, doubles the business equipment tax exemption in Montana from $100,000 to $200,000. Last week, Gov. Gianforte visited the Hayhook Ranch south of Clyde Park to discuss how farmers and ranchers may benefit from the legislation.

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