Montana Income Tax Rate 2024 - 2025
Montana state income tax rate table for the 2024 - 2025 filing season has two income tax brackets with MT tax rates of 4.7% and 5.9% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. This year the top Montana tax rate decreased from 6.75% to the current rate of 5.9%. The number of income tax brackets decreased from seven to just two as Montana begins to simplify under the new law.
Montana income tax rate and tax brackets shown in the table below are based on income earned between January 1, 2024 through December 31, 2024. Outlook for the 2025 Montana income tax rate is to remain unchanged at 4.7% and 5.9%. The two new tax brackets will be adjusted each year for inflation.
| Income Tax Bracket | Tax Rate 2024 | ||
|---|---|---|---|
| $0 | to | $20,500 | 4.7% |
| $20,501 | to | ∞ | 5.9% |
| Income Tax Bracket | Tax Rate 2024 | ||
|---|---|---|---|
| $0 | to | $41,000 | 4.7% |
| $41,001 | to | ∞ | 5.9% |
| Income Tax Bracket | Tax Rate 2024 | ||
|---|---|---|---|
| $0 | to | $20,500 | 4.7% |
| $20,501 | to | ∞ | 5.9% |
| Income Tax Bracket | Tax Rate 2024 | ||
|---|---|---|---|
| $0 | to | $30,750 | 4.7% |
| $30,751 | to | ∞ | 5.9% |
Source: Montana Individual Income Tax, 2024 Rate Table, published by the Montana Department of Revenue.
Please reference the Montana tax forms and instructions booklet published by the Montana Department of Revenue to determine if you owe state income tax or are due a state income tax refund. Montana income tax forms are generally published at the end of each calendar year, which will include any last minute 2024 - 2025 legislative changes to the MT tax rate or tax brackets. The Montana income tax rate tables and tax brackets shown on this web page are for illustration purposes only.
Montana Tax Brackets 2024 - 2025
Looking at the tax rate and tax brackets shown in the tables above for Montana, we can see that Montana collects individual income taxes differently for Single versus Married filing statuses, for example. We can also see the progressive nature of Montana state income tax rates from the lowest MT tax rate bracket of 4.7% to the highest MT tax rate bracket of 5.9%.
For single taxpayers living and working in the state of Montana:
- Tax rate of 4.7% on the first $20,500 of taxable income.
- Tax rate of 5.9% on taxable income over $20,500.
For married taxpayers living and working in the state of Montana:
- Tax rate of 4.7% on the first $41,000 of taxable income.
- Tax rate of 5.9% on taxable income over $41,000.
For the Single, Married Filing Jointly, Married Filing Separately, and Head of Household filing statuses, the MT tax rates and the number of tax brackets remain the same. Notice, however, the Montana income tax brackets for Married Filing Jointly increase from $20,500 to $41,000 (double) at 5.9% the highest tax bracket. Married Filing Separately income tax brackets are one half that of the Married Filing Jointly income tax brackets in the state of Montana.
Last updated: December 5, 2024
References:
- Individual Income Tax Rates. Montana Department of Revenue. Retrieved December 5, 2024.
- Montana Income Tax Simplification Effective Tax Year 2024. Montana Department of Revenue. Retrieved December 5, 2024.
- Rate Of Tax - Net Long-Term Capital Gains. Montana Code Annotated 2023, Section 15-30-2103. Retrieved December 5, 2024.
- Income tax rates going down in Montana. Cargill, Chris. Mountain States Policy Center, July 21, 2023. Retrieved December 5, 2024.
- Montana expected to reduce top individual tax rate. Ernst & Young. Tax News Update, March 8, 2023. Retrieved December 5, 2024.