Montana legislation · 2025 Regular Session
Montana SB371: Generally revise agriculture laws - MT made products
Status: Failed, May 23, 2025
What the bill says
A bill for an act entitled: "an act providing tax incentives for the sale of montanaproduced goods; providing a subtraction from individual income and corporate income taxes for the income from montana-produced goods; providing a definition amending sections 15-30-2120 and 15-31-113, mca; and providing an applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING TAX INCENTIVES FOR THE SALE OF MONTANAPRODUCED GOODS; PROVIDING A SUBTRACTION FROM INDIVIDUAL INCOME AND CORPORATE INCOME TAXES FOR THE INCOME FROM MONTANA-PRODUCED GOODS; PROVIDING A DEFINITION AMENDING SECTIONS 15-30-2120 AND 15-31-113, MCA; AND PROVIDING AN APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 15-30-2120, MCA, is amended to read: "15-30-2120. Adjustments to federal taxable income to determine Montana taxable income. (1) The items in subsection (2) are added to and the items in subsection (3) are subtracted from federal taxable income to determine Montana taxable income. (2) The following are added to federal taxable income: (a) to the extent that it is not exempt from taxation by Montana under federal law, interest from obligations of a territory or another state or any political subdivision of a territory or another state and exemptinterest dividends attributable to that interest except to the extent already included in federal taxable income; (b) that portion of a shareholder's income under subchapter S. of Chapter 1 of the Internal Revenue Code that has been reduced by any federal taxes paid by the subchapter S. corporation on the income; (c) depreciation or amortization taken on a title plant as defined in 33-25-105; (d) the recovery during the tax year …
Sponsors
- Neumann, Cora (D, 30) · primary sponsor
Latest actions
- : (S) Died in Process
- : (S) Missed Deadline for Revenue Bill Transmittal
- : (S) Tabled in Committee
- : (S) Hearing
- : (S) Fiscal Note Printed
- : (S) Fiscal Note Signed
- : (S) Sponsor Rebuttal to Fiscal Note Received
- : (S) Hearing
- : (S) Fiscal Note Printed
- : (S) Fiscal Note Unsigned
Subjects: Taxation, Sales, Revenue, State, Taxation--Individual Income, Agriculture
Common questions
- What is SB371?
- SB371 is a bill in the Montana Legislature (2025 Regular Session): Generally revise agriculture laws - MT made products.
- What does SB371 do?
- In its own words: A bill for an act entitled: "an act providing tax incentives for the sale of montanaproduced goods; providing a subtraction from individual income and corporate income taxes for the income from montana-produced goods; providing a definition amending sections 15-30-2120 and 15-31-113, mca; and providing an applicability date.".
- What is the status of SB371?
- Failed as of May 23, 2025. Latest action: (S) Died in Process (May 23, 2025).
- Who sponsored SB371?
- Neumann, Cora (D, 30).
- Where is the official record for SB371?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC3248
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.