Montana has made the following changes to the tax laws for the 2018 tax year:
- Form 2, as a paper form, has been improved to take into account the changes the IRS has made to the Federal Income Tax Form 1040 and to improve usage by the taxpayer.
The new version has the most important tax information on the first page with the different calculations are now listed on separate Schedules. Worksheets and schedules which are most often used are now arranged in a more orderly fashion generally based on as needed basis to enhance taxpayer usage.
- The federal Tax Cut and Jobs Act changed several things relating to itemized deductions. Some items have now been rescinded or suspended. These Form 2 instructions include those changes for Tax Year 2018.
- The Qualified Business Income Deduction is no longer allowed when calculating net income.