Montana Income Tax Rate 2023 - 2024
Montana state income tax rate table for the 2023 - 2024 filing season has seven income tax brackets with MT tax rates of 1%, 2%, 3%, 4%, 5%, 6% and 6.75% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. Last year the top Montana tax rate decreased from 6.9% to it's current rate of 6.75%. The income tax brackets increased due to an annual inflation adjustment.
Montana income tax rate and tax brackets shown in the table below are based on income earned between January 1, 2023 through December 31, 2023. Outlook for the 2024 Montana income tax rate is to decrease further to 5.9% of taxable income. Montana income tax brackets and rates are scheduled to become simplified beginning tax year 2024. Seven brackets will become two while filing statuses and filing requirements will more closely follow the federal tax return.
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $3,600 | 1% |
| $3,601 | to | $6,300 | 2% |
| $6,301 | to | $9,700 | 3% |
| $9,701 | to | $13,000 | 4% |
| $13,001 | to | $16,800 | 5% |
| $16,801 | to | $21,600 | 6% |
| $21,601 | to | ∞ | 6.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $3,600 | 1% |
| $3,601 | to | $6,300 | 2% |
| $6,301 | to | $9,700 | 3% |
| $9,701 | to | $13,000 | 4% |
| $13,001 | to | $16,800 | 5% |
| $16,801 | to | $21,600 | 6% |
| $21,601 | to | ∞ | 6.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $3,600 | 1% |
| $3,601 | to | $6,300 | 2% |
| $6,301 | to | $9,700 | 3% |
| $9,701 | to | $13,000 | 4% |
| $13,001 | to | $16,800 | 5% |
| $16,801 | to | $21,600 | 6% |
| $21,601 | to | ∞ | 6.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $3,600 | 1% |
| $3,601 | to | $6,300 | 2% |
| $6,301 | to | $9,700 | 3% |
| $9,701 | to | $13,000 | 4% |
| $13,001 | to | $16,800 | 5% |
| $16,801 | to | $21,600 | 6% |
| $21,601 | to | ∞ | 6.75% |
Source: Montana Individual Income Tax, 2023 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 2023 - 2024 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 2023 - 2024
Looking at the tax rate and tax brackets shown in the tables above for Montana, we can see that Montana collects individual income taxes similarly 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 1% to the highest MT tax rate bracket of 6.75%.
For single taxpayers living and working in the state of Montana:
- Tax rate of 1% on the first $3,600 of taxable income.
- Tax rate of 2% on taxable income between $3,601 and $6,300.
- Tax rate of 3% on taxable income between $6,301 and $9,700.
- Tax rate of 4% on taxable income between $9,701 and $13,000.
- Tax rate of 5% on taxable income between $13,001 and $16,800.
- Tax rate of 6% on taxable income between $16,801 and $21,600.
- Tax rate of 6.75% on taxable income over $21,600.
For married taxpayers living and working in the state of Montana:
- Tax rate of 1% on the first $3,600 of taxable income.
- Tax rate of 2% on taxable income between $3,601 and $6,300.
- Tax rate of 3% on taxable income between $6,301 and $9,700.
- Tax rate of 4% on taxable income between $9,701 and $13,000.
- Tax rate of 5% on taxable income between $13,001 and $16,800.
- Tax rate of 6% on taxable income between $16,801 and $21,600.
- Tax rate of 6.75% on taxable income over $21,600.
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 also that the Single, Married Filing Jointly, Married Filing Separately, and Head of Household income tax bracket amounts are all the same for the state of Montana.
Last updated: November 20, 2023
References:
- Individual Income Tax Rates. Montana Department of Revenue, November 3, 2023. Retrieved November 20, 2023.
- Montana Income Tax Simplification Effective Tax Year 2024. Income Tax Specialist. Montana Department of Revenue, November 1, 2023. Retrieved November 20, 2023.
- Rate Of Tax - Net Long-Term Capital Gains. Montana Code Annotated 2023, Section 15-30-2103. Retrieved November 20, 2023.
- Income tax rates going down in Montana. Cargill, Chris. Mountain States Policy Center, July 21, 2023. Retrieved November 20, 2023.
- Montana expected to reduce top individual tax rate. Ernst & Young. Tax News Update, March 8, 2023. Retrieved November 20, 2023.