SB 371 AN ACT PROVIDING TAX INCENTIVES FOR THE SALE OF MONTANA-PRODUCED GOODS
SB 371 - AN ACT PROVIDING TAX INCENTIVES FOR THE SALE OF MONTANA-PRODUCED GOODS
PROVIDING A SUBTRACTION FROM INDIVIDUAL INCOME AND CORPORATE INCOME TAXES FOR THE INCOME FROM MONTANA-PRODUCED GOODS
The sponsor is Sen. Cora Neuman
We are looking for Montana producers, or Montana small-business owners/retailers to support this bill and speak a personalized testimony to the challenges of accessing retail shelf space, and how this incentive could be an option to give them a more level playing field to compete with other products that are on shelves.
The goal of this bill is to provide a tax incentive opportunity for retailers to stock Montana produced goods on their shelves, providing a subtraction from individual income and corporate income taxes for the income from Montana-products. Details of this are on page 4 line 19 and page 7 line 10. This is completely voluntary, and retailers can choose to utilize this incentive or not.
Page 7, line 19, the bill has a definition of “Montana-produced goods” is – “articles identified by the vendor as planted, cultivated, grown, harvested, raised, collected, processed, or manufactured in the state, including but not limited to: (a) food and drink used for humans or other animals; (b) devices, instruments, fine arts, musical arts, crafts, and clothing; and (c) any other good produced by a small business that is independently owned and operated primarily within the state.”
SB 371 - AN ACT PROVIDING TAX INCENTIVES FOR THE SALE OF MONTANA-PRODUCED GOODS; PROVIDING A SUBTRACTION FROM INDIVIDUAL INCOME AND CORPORATE INCOME TAXES FOR THE INCOME FROM MONTANA-PRODUCED GOODS
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