Montana to Send Tax Rebate Payments of Up to $2,500

August 19, 2023 William Ross US Local News 0

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HELENA, Mont. (AP) — Montana Gov. Greg Gianforte on Friday signed a bill to send tax rebate payments of up to $2,500 to most taxpayers in the state.

The payments, which will be based on 2021 tax returns, are expected to cost the state about $1.2 billion.

“Today, we’re making it easier for Montanans to raise a family, to earn a good living, to own a home, to retire comfortably, and achieve their American dream,” Gianforte said in a statement.

The rebates will be $1,250 for individual filers and $2,500 for married couples filing jointly. They will be available to taxpayers who have a Montana adjusted gross income of less than $150,000 for individuals and $300,000 for married couples filing jointly.

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The payments are expected to go out in the fall.

The bill was passed by the Montana Legislature earlier this month. It was supported by both Republicans and Democrats.

Some lawmakers had argued that the state should use the money to address other priorities, such as education or infrastructure. But Gianforte and other supporters of the bill said the rebates would provide much-needed relief to Montanans who are struggling with inflation.

Tax rebates

The tax rebates are the latest in a series of financial assistance programs that Montana has implemented in recent months. In April, the state announced a one-time payment of $1,000 to all Montanans who filed a 2021 tax return.

The state has also waived interest and penalties on late tax payments and extended the deadline for filing state taxes.

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The Montana Department of Revenue is still working out the details of how the tax rebates will be distributed. The agency said it will provide more information in the coming weeks.

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William Ross
About William Ross 332 Articles
I am a cryptocurrency enthusiast and writer with over five years of experience in the industry. I have been following the development and innovation of Bitcoin and Ethereum since their inception, and I enjoy sharing my insights and analysis with readers. I have written for various reputable platforms, such as CoinDesk, Cointelegraph, and Decrypt, covering topics such as market trends, regulation, security, and adoption. I believe that cryptocurrency is the future of finance and technology, and I am passionate about educating and informing people about its benefits and challenges.