HB 212 increases tax exemption

(Helena) – The 2023 Montana legislature passed House Bill 212 that changed how business equipment is taxed, increasing the tax exemption from $300,000 to $1 Million.

Unless a business has acquired new personal property and would like to increase their aggregate value or the Department of Revenue makes a request, those business with business equipment under $1 Million of statewide market value are not required to report.

Businesses with equipment valued over $1 million are required to report by March 1, 2024 to avoid a 20% penalty.

For more information, visit mtrrevenue.gov or call the department of revenue at 406-444-6900

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