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Category: Montana
55 Articles
Orange arrow Montana Alternative Fuel Credit

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  Alternative Fuel Credit. You can claim a credit against your income tax liability for the cost of converting your motor vehicle to operate on an alternative fuel. Your credit is equal to 50% of the cost to convert your motor vehicle for a maximum credit of up to $1,000. In order to qualify for this...
Posted in: STATES, Montana

Orange arrow Montana College Contribution Credit

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  You can claim a credit against your income tax liability for contributions that you made in 2014 to a foundation or general endowment fund of the Montana university system, a Montana private college, a community college or a tribal college. Your credit is equal to 10% of the contribution that you m...
Posted in: STATES, Montana

Orange arrow Montana Elderly Care Credit

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  You can claim a credit against your income tax liability for paying certain expenses in order to provide care to an elderly family member. Your credit cannot exceed $5,000 for one qualifying family member, or $10,000 for the care of two or more qualifying family members. In order to qualify for thi...
Posted in: STATES, Montana

Orange arrow Filing Separate Returns on the Same Form

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  If both you and your spouse have income, you can file your Montana tax returns separately, even if you filed your federal income tax return jointly. But, if you and your spouse file separately, you will each need to report your own adjusted gross income. You cannot arbitrarily assign income between...
Posted in: STATES, Montana

Orange arrow What are the Requirements for the Montana Disabled Dependent Child Exemption?

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  In addition to the dependent exemption, you are entitled to another exemption for a child who is disabled. If your child is disabled and you qualify for this additional exemption, place an “X” in the “Mark if Disabled” column in the same row you listed your disabled child, a...
Posted in: STATES, Montana

Orange arrow Montana Payment Options

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  ● Electronic funds withdrawal when e-filing your joint federal/state tax return. You can use OLTPRO to schedule the withdrawal for a later date.● E-check or credit/debit card—please visit our website at revenue.mt.gov and click on Taxpayer Access Point (TAP) or Income Tax Express (ITE)e-payme...
Posted in: STATES, Montana

Orange arrow Montana Deductions

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  You should use Form 2, Schedule III, to calculate your itemized deductions, but remember that your Montana itemized deductions may be different from your federal itemized deductions. There are federal deductions that are not allowed on your Montana tax return and state deductions that are allowed o...
Posted in: STATES, Montana

Orange arrow Montana Exempt Family Education Savings Account Deposits and Earnings

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  When you determine your Montana adjusted gross income, you can subtract from your federal adjusted gross income the lesser of the contributions that you made during 2014 to one or more Montana family education savings accounts or $3,000. If you are married, both you and your spouse are entitled to ...
Posted in: STATES, Montana

Orange arrow Montana Elderly Homeowner Credit

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  The Montana elderly homeowner/renter credit is a property tax relief program that provides you with a refundable credit of up to $1,000 if you are age 62 or older, have resided in Montana for at least nine months during the year, occupied a Montana residence for at least six months during the year,...
Posted in: STATES, Montana

Orange arrow Montana Alternative Energy Systems Credit

435 views
  Line 13a – Nonfossil form of energy: If you are a resident of Montana, you can claim a credit against your income tax liability for the cost of purchasing and installing an energy system that uses a recognized nonfossil form of energy such as, but not limited to, solar energy, wind energy, so...
Posted in: STATES, Montana

Orange arrow Montana Energy Conservation Installation Credit

632 views
  If you are a resident of Montana, you can claim a credit against your income tax liability for energy conservation investments that you made to your home or other buildings. Your credit is equal to 25% of your expenses for a maximum credit of up to $500 for the capital investments you made to your ...
Posted in: STATES, Montana

Orange arrow Montana Partial Retirement Disability Income Exemption for Taxpayers Under Age 65

610 views
  You can qualify for a partial retirement disability income exclusion of up to $5,200 if you are: ● under the age of 65● retired as permanent and totally disabled, and● not treating your disability income as a pension and annuity. You are permanently and totally disabled if you are unable to engag...
Posted in: STATES, Montana

Orange arrow Montana Child and Dependent Care Expense

822 views
  If you pay for household or dependent care services for a child under the age of 15, or for a disabled dependent while you are searching for gainful mployment, or while you and your spouse both were at work, you can qualify for a child and dependent care expense deduction. To qualify for this deduc...
Posted in: STATES, Montana

Orange arrow Montana Recycle Credit

541 views
  Recycling Property Credit (business credit) An individual, corporation, partnership, or small business corporation may receive a tax credit for investments in depreciable property used primarily to collect or process reclaimable material or to manufacture a product from reclaimed material accordin...
Posted in: STATES, Montana

Orange arrow Montana Qualified Endowment Credit

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  You can claim a credit against your income tax liability for contributions made to a qualified Montana endowment held by a Montana corporation or established organization that is tax-exempt under 26 USC 501(c)(3) or is held by a bank or trust company in Montana on behalf of the taxexempt organizati...
Posted in: STATES, Montana


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