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Massive income tax revision clears committee


On a 6-5 vote Thursday, a Senate committee advanced a dramatic re-write of the state s income tax laws.
Senate Bill 399 is from Sen. Greg Hertz, R-Polson. It s similar to a 2015 bill from another Republican Flathead lawmaker, former Sen. Bruce Tutvedt. That bill cleared the Legislature but was vetoed by the former Democratic governor. 
For years our Montana tax code s been loaded with special interest credits (and) deductions, so to me it s time to broaden the base and simplify our process, Hertz told the Senate Taxation Committee.
The bill would cut the state s income tax brackets from seven to two, and set their tax rates at 4.7% for the lower tier and 6.5% for the upper. It would also eliminate several individual and corporate income tax credits. ....

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