State Corporate Income Tax Rates and Brackets, 2022
Forty-four states levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 11.5 percent in New Jersey.
8 min readHow does Montana’s tax code compare? Montana has a graduated state individual income tax, with rates ranging from 4.70 percent to 5.90 percent. Montana has a 6.75 percent corporate income tax rate. Montana does not have a sales tax. Montana has a 0.69 percent effective property tax rate on owner-occupied housing value.
Montana does not have an estate tax or inheritance tax. Montana has a 33.75 cents per gallon gas tax rate and a $1.70 cigarette excise tax rate. The State of Montana collects $5,065 in state and local tax collections per capita. Montana has $5,185 in state and local debt per capita and has a 73 percent funded ratio of public pension plans. Overall, Montana’s tax system ranks 5th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Montana is no exception. The first step towards understanding Montana’s tax code is knowing the basics. How does Montana collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Forty-four states levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 11.5 percent in New Jersey.
8 min readWell-designed Net Operating Loss (NOL) provisions benefit the economy by smoothing business income, which mitigates entrepreneurial risk and helps firms survive economic downturns.
24 min readTwenty-one states and D.C. had significant tax changes take effect on January 1, including five states that cut individual income taxes and four states that saw corporate income tax rates decrease.
17 min readStates are unprepared for the ongoing shift to remote and flexible work arrangements, or for the industries and activities of today, to say nothing of tomorrow. In some states, moreover, existing tax provisions exacerbate the impact of high inflation and contribute to the supply chain crisis.
40 min readThe pandemic has accelerated changes in the way we live and work, making it far easier for people to move—and they have. As states work to maintain their competitive advantage, they should pay attention to where people are moving, and try to understand why.
5 min readWhile there are many ways to show how much is collected in taxes by state governments, our State Business Tax Climate Index is designed to show how well states structure their tax systems and provides a road map for improvement.
169 min readThe intentions behind federal deductibility are undoubtedly pro-taxpayer. Unfortunately, that is not what happens in practice. Tax liability is not reduced. It is distorted.
7 min readThe six counties with the highest median property tax payments all have bills exceeding $10,000—Bergen, Essex, and Union Counties in New Jersey, and Nassau, Rockland, and Westchester counties in New York. All six are near New York City, as is the next highest, Passaic County, New Jersey ($9,881).
3 min readIt is important to understand how the SALT deduction’s benefits have changed since the SALT cap was put into place in 2018 before repealing the cap or making the deduction more generous. Doing so would disproportionately benefit higher earners, making the tax code more regressive.
6 min read