Changes to the Business Equipment Reporting Requirement

HELENA - The 2021 Legislature passed House Bill 303, changing how Montana taxes business equipment. The new law increases the business equipment tax exemption from $100,000 to $300,000 for Tax Year 2022.

Businesses whose statewide market value of equipment is $300,000 or less are exempt from the business equipment tax. These businesses will not have a reporting requirement in 2022 unless: (1) they have acquired new personal property that would increase their equipment’s aggregate market value above the exemption amount; or, (2) the department requests a personal property reporting form be comp...