Big Sky Times

On August 11, 2023, Governor Greg Gianforte announced over a dozen tax bills, resulting in the largest tax cut in Montana's history, including immediate rebates and long-term relief for families and businesses.

"I fundamentally believe hardworking Montanans should keep more of what they earn,” Gianforte said. “Working with the legislature this session, we gave over $1 billion back to the people of Montana through the largest tax cut in state history. We’ll continue to reform and simplify our tax code to help our veterans, families, and small business owners thrive."

Governor Greg Gianforte heralded the signing of over a dozen tax bills into law during a press conference on August 11, 2023, at Action Electric Inc., lauding what he termed as the largest tax cut in Montana's state history. Together, these laws will provide both immediate rebates and permanent, long-term relief for Montana's families and businesses.

According to the press release, the tax package includes provisions for immediate relief, totaling up to $3,850 in income and property tax rebates for Montana families. Moreover, the package incorporates more than $500 million in permanent income tax rate reductions and $120 million in permanent property tax relief that was proposed and secured by Governor Gianforte this spring.

In addition to the income and property tax measures, the governor emphasized his efforts to reform the state’s business equipment tax. Since taking office, he has raised the business equipment tax exemption from $100,000 to $1 million, resulting in more than 5,000 businesses being completely eliminated from the business equipment tax rolls.

Governor Gianforte was joined by legislators and Montanans who were instrumental in crafting and supporting the tax package. The collaboration between the executive and legislative branches was praised as a decisive factor in shaping historic tax reform.

Critics and supporters of the tax cuts will likely continue to assess the long-term implications of these policies, but for now, the celebration at Action Electric Inc. marked a significant milestone in Montana's fiscal policy, showcasing the state's commitment to easing the tax burden for its residents.