Q: I have a question about a letter I received from my county assessor’s office. I live in Maricopa County, Arizona. The form asks how many people live in our home and what we’re doing with the home. The form also states that if we don’t respond, they will fine us.
Another of Republican Gov. Greg Gianforte's priorities, to raise the business equipment tax exemption, has also advanced after stalling out in committee.
The session has been marked at moments by sharp partisan spats and for the first time held under a hybrid model that’s allowed for remote participation because of the pandemic.
While most states rely heavily on three sources of taxes, many of the lowest-tax states for residents generate tax revenue in ways that do not financially burden those residents in a direct way.
Over the course of two years, the top 3.4 percent of Montana taxpayers saved a combined $719 million due to the Republican tax cuts, which is about 40.1% of the total tax savings.
Q: My partner and I plan to purchase a duplex with friends. We would live on one side, and our friends (who already own their forever home) would rent out the other side. Eventually we plan to purchase a home for ourselves and rent out both sides of the duplex.
Pay raises can be hard to come by, especially now. But if you received a big tax refund this year, getting more take-home pay next year could be a matter of filling out a form.
Depending on local tax rates and home values, property taxes can account for a substantial portion of housing costs. Living in a high-tax state has become increasingly more expensive.
TRUMP on his taxes: "They keep talking about $750, which I think is a filing fee. ... Tens of millions of dollars (in income taxes) I prepaid.…
Q: Is mortgage interest still deductible on our federal income taxes? Is there something new that I am not aware of? Is there some reason to not have a mortgage that is different from what we’ve always believed?
Trump paid $750 in taxes in 2016 and again in 2017, but paid no tax most years, according to a report Sunday in The New York Times. A lawyer for Trump called the report inaccurate.
Photo Credit: Alamy Stock Photo
So, a Montana Republican legislative leader suggests the GOP back a sales tax. Current Senate President and former Speaker of the House Scott …
HELENA — The Montana Department of Revenue is extending the state income tax filing deadline by a day after the IRS had to do the same due to computer issues.
State Republican lawmakers are pushing back against suggestions that federal tax cuts will put a $29 million hurt on state revenue collections and require a special meeting of the Montana Legislature to fix.
HELENA – Lawmakers are cautiously optimistic after a revenue report released Wednesday showed the state may bring in more money than estimates that triggered a special session in November.
Although coal mining and the production from coal-fired power plants has declined in Montana, taxes on coal still remain a significant source of revenue for the state, bringing in $81 million to state and local governments in 2016.