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Administration says Dems capital gains bill conflicts with plans


A bill from a Bozeman Democrat that he said would create a more equitable tax system runs afoul of what the governor s office says is their legislative proposal to attract businesses to the state.
Rep. Jim Hamilton on Thursday introduced a bill to limit the state s capital gains tax credit. His bill would have the state s 2% capital gains credit taken against either their net capital gains or taxable income. The legislation would boost the state s revenues by about $2.7 million each year.
Under the current tax system, Hamilton said, if two people had the same taxable income, the person with capital gains would have a lower tax rate. He said that system was inequitable, and while he wants to see a larger overhaul of the state s system, his bill would be an improvement. ....

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