Montana Income Tax Guide for 2024
Overview
Montana uses a progressive income tax system with rates ranging from 4.7% to 5.9%. Capital gains are taxed at separate rates ranging from 3% to 4.1%. The state offers a standard deduction of $14,600 for single filers.
Income Tax Rates
Single Filers
| Income Range | Tax Rate |
|---|---|
| Up to $20,499 | 4.7% |
| $20,500+ | 5.9% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| Up to $40,999 | 4.7% |
| $41,000+ | 5.9% |
Capital Gains Tax
Single Filers
| Income Range | Tax Rate |
|---|---|
| Up to $20,499 | 3% |
| $20,500+ | 4.1% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| Up to $40,999 | 3% |
| $41,000+ | 4.1% |
Deductions & Exemptions
| Type | Amount |
|---|---|
| Standard Deduction (Single) | $14,600 |
| Standard Deduction (Married Filing Jointly) | $29,200 |
Additional Information
- Age 65+ subtraction of $5,500 ($11,000 if both spouses are 65 or older)
- From 2024 Montana taxable income starts from federal taxable income, so the federal standard deduction applies; the former Montana standard deduction and personal and dependent exemptions no longer exist
- Long-term capital gains taxed at 3.0% within the first bracket and 4.1% above it
Charts
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Sources
The 2024 figures for Montana on this page were compiled from the following official government publications:
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