What's new in 2023 for Montana?

Montana has made the following changes for the 2023 tax year.

Tax Laws

• The due date for filing a Montana income tax return is extended to April 15, 2024
• The Montana Standard deduction amounts have changed to the following for 2023
  • Single
    • under age 65, $5,540
    • age 65 or older, $8,500
  • Head of Household
    • under age 65, $11,080
    • age 65 or older, $14,040
  • Married Filing Jointly
    • both under age 65, $11,080
    • one spouse age 65 or older, $14,040
    • both spouses age 65 or older, $17,000
  • Married Filing Separately
    • under age 65, $5,540
    • age 65 or older, $8,500

Tax Credits 

• Adoption Tax Credit - Montana House Bill 225 created a refundable tax credit for those who adopt and eligible child on or after July 1, 2022. The credit is $7,500 for adopting an eligible child who was in the Montana foster care system. The credit is $5,000 if the eligible child was not apart of the Montana foster care system. 

Tax Forms

• Additions Schedule - Montana has added a new line for individuals to add back any state income tax taken as a deduction from federal AGI.
• Nonrefundable Credits Schedule - Individuals claiming the Jobs Growth Incentive Credit will now report the Credit Certificate Number. This number is now required to claim the credit.
• Other Payments and Refundable Credit Schedule - New lines were added to allow taxpayers to report their pass-through entity tax and adoption credit.

Further Information

For a list detailing what's new for Montana in 2023, please click here.