Montana SB371 revises tax laws to provide incentives for Montana-produced goods and military income.

Montana SB371 revises state tax laws to provide incentives for the sale of Montana-produced goods and military income. The bill defines "Montana-produced goods" as items planted, cultivated, grown, harvested, raised, collected, processed, or manufactured in Montana. It allows a subtraction from individual and corporate income taxes for the income from Montana-produced goods. The bill also provides a subtraction from federal taxable income for military pensions and retirement income for certain residents.

Montana SB371 revises tax laws to provide incentives for Montana-produced goods and military income.

Montana SB371 revises state tax laws to provide incentives for the sale of Montana-produced goods and military income. The bill defines "Montana-produced goods" as items planted, cultivated, grown, harvested, raised, collected, processed, or manufactured in Montana. It allows a subtraction from individual and corporate income taxes for the income from Montana-produced goods. The bill also provides a subtraction from federal taxable income for military pensions and retirement income for certain residents.