HB 212 - Increases Business Equipment Tax Exemption from $300,000 to $1 Million - Montana Key Vote
Terry Moore voted Yea (Passage) on this Legislation.
Timeline
- House Bill Passed
- Feb. 2, 2023
- Introduced
- Jan. 6, 2023
Related Issues
Stage Details
Title: Increases Business Equipment Tax Exemption from $300,000 to $1 Million
Vote Smart's Synopsis:
Vote to pass a bill that increases increases business equipment tax exemption from $300,00 to $1 million.
Highlights:
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Exempts from taxation first $1 million (previously first $300,000) of market value of class eight property (e.g. mining and manufacturing machinery, medical equipment) (Page 8).
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Repeals mention of American Rescue Plan Act (Page 9).
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Amends statewide elementary/high school guaranteed tax base ratio to multiply by 254% for fiscal year 2024 and 259% for fiscal year 2025 and onward (Page 12).
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Establishes effective date(s) of tax years beginning after December 31, 2023 (Page 15).
Title: Increases Business Equipment Tax Exemption from $300,000 to $1 Million