Senate Bill No. [insert bill number] aims to provide tax incentives for the sale of goods produced in Montana by amending sections 15-30-2120 and 15-31-113 of the Montana Code Annotated (MCA). The bill introduces a subtraction from both individual and corporate income taxes for fifty percent of the net income derived from the sale of Montana-produced goods. Additionally, it defines "Montana-produced goods" as items that are planted, cultivated, grown, harvested, raised, collected, processed, or manufactured within the state, including food, drink, crafts, and other goods produced by small businesses primarily operating in Montana.

The bill also includes a new section that specifies its applicability to income tax years beginning after December 31, 2025. This legislative change is intended to encourage local production and sales, thereby supporting Montana's economy. The amendments to the existing tax code reflect a commitment to fostering local businesses and enhancing the state's economic landscape.

Statutes affected:
LC Text: 15-30-2120, 15-31-113
SB0371_1(1): 15-30-2120, 15-31-113
SB0371_1(2): 15-30-2120, 15-31-113
SB0371_1(3): 15-30-2120, 15-31-113
SB0371_1(4): 15-30-2120, 15-31-113
SB0371_1(5): 15-30-2120, 15-31-113
SB0371_1: 15-30-2120, 15-31-113