HELENA, Mont. (May 5, 2021) – Montana Stockgrowers Association (MSGA) members will be seeing tax relief coming their way with the signing of House Bill (HB) 303. The Business Investment Grows (BIG) Jobs Act, sponsored by Representative Josh Kassmier of Fort Benton, and a priority bill for the Gianforte administration was signed into law on Tuesday and raises the business equipment tax exemption from $100,000 to $300,000.
Roughly half of all Montana ranches and farms will benefit from the BIG Jobs Act. Over 3,400 businesses around the state will have their business equipment tax eliminated as a result of this law, and another 2,500 more businesses will benefit with a reduction in taxes.
“We appreciate Governor Gianforte’s work to create a strong business climate for Montana ranchers. MSGA has had a long standing history of advocating in lowering and/or eliminating the business equipment tax. In an industry where margins matter, taxes affect the bottom line. Providing tax relief for small business owners will allow for ranchers to invest more in their local communities,” shared Jim Steinbiesser, MSGA President.
MSGA thanks Governor Gianforte and Representative Kassmier for their leadership in the BIG Jobs Act and their continued support of ranching families.
Director of Marketing & Communications
To view more MSGA news, visit https://mtbeef.org/news/