Montana legislation · 2025 Regular Session
Montana SB538: Provide income tax deduction for qualified business income
Status: Failed, May 23, 2025
What the bill says
A bill for an act entitled: "an act revising income tax deductions for certain trade or business expenses; allowing a qualified business income tax deduction; providing the deduction is based on the amount claimed under section 199a of the internal revenue code; amending section 15-30-2120, mca; and providing an immediate effective date and a retroactive applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT REVISING INCOME TAX DEDUCTIONS FOR CERTAIN TRADE OR BUSINESS EXPENSES; ALLOWING A QUALIFIED BUSINESS INCOME TAX DEDUCTION; PROVIDING THE DEDUCTION IS BASED ON THE AMOUNT CLAIMED UNDER SECTION 199A OF THE INTERNAL REVENUE CODE; AMENDING SECTION 15-30-2120, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE 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 …
Sponsors
- Hertz, Greg (R, 7) · primary sponsor
Latest actions
- : (S) Died in Process
- : (S) Missed Deadline for Revenue Bill Transmittal
- : (S) Tabled in Committee
- : (S) Hearing
- : (S) Fiscal Note Unsigned
- : (S) Fiscal Note Received
- : (S) Fiscal Note Requested
- : (S) Referred to Committee
- : (S) 1st Reading
- : (S) Introduced
Subjects: Taxation, Revenue, State, Taxation--Individual Income
Common questions
- What is SB538?
- SB538 is a bill in the Montana Legislature (2025 Regular Session): Provide income tax deduction for qualified business income.
- What does SB538 do?
- In its own words: A bill for an act entitled: "an act revising income tax deductions for certain trade or business expenses; allowing a qualified business income tax deduction; providing the deduction is based on the amount claimed under section 199a of the internal revenue code; amending section 15-30-2120, mca; and providing an immediate effective date and a retroactive applicability date.".
- What is the status of SB538?
- Failed as of May 23, 2025. Latest action: (S) Died in Process (May 23, 2025).
- Who sponsored SB538?
- Hertz, Greg (R, 7).
- Where is the official record for SB538?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC1002
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.