Montana Income Tax Guide for 2024
Overview
Montana uses a progressive income tax system with rates ranging from 1% to 6.4%. Capital gains are taxed as ordinary income. The state offers a standard deduction of $5,690 for single filers, personal exemptions of $3,100, and dependent exemptions of $3,100.
Income Tax Rates
Single Filers
| Income Range | Tax Rate |
|---|---|
| Up to $3,599 | 1% |
| $3,600 - $6,899 | 2% |
| $6,900 - $10,799 | 3% |
| $10,800 - $14,499 | 4% |
| $14,500 - $18,699 | 5% |
| $18,700 - $23,099 | 5.8% |
| $23,100+ | 6.4% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| Up to $3,599 | 1% |
| $3,600 - $6,899 | 2% |
| $6,900 - $10,799 | 3% |
| $10,800 - $14,499 | 4% |
| $14,500 - $18,699 | 5% |
| $18,700 - $23,099 | 5.8% |
| $23,100+ | 6.4% |
Capital Gains Tax
Capital gains are taxed at the same rates as ordinary income.
Deductions & Exemptions
| Type | Amount |
|---|---|
| Standard Deduction (Single) | $5,690 |
| Standard Deduction (Married Filing Jointly) | $11,380 |
| Personal Exemption (Single) | $3,100 |
| Personal Exemption (Married) | $6,200 |
| Dependent Exemption | $3,100 |
Additional Information
- Age 65+ exemption of $5,660
Charts
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