by Jane Egan
The 2017 Legislative Session begins January 2nd and promises to be just as busy and exciting as past ones.
Our current Governor, Steve Bullock (Democrat), was re-elected and Republicans hold a majority in the Senate and House.
The Governor has released his budget proposal which includes (among many other things):
- a new tax bracket of 7.9 for people who make over $500,000 a year
- increase in tax credits for new and expanding businesses
- 6% tax on medical marijuana
- Elimination of state capital gains credit for gains topping one million annually
- A state earned-income tax credit for the working poor
Two of our committees—Legislation & Governmental Affairs and State Taxation—have been working on our legislative agenda for a number of months and are close to finalizing the details. We do know we will be initiating legislation to:
- establish a corresponding deduction/subtraction on the Montana return for a credit on the Federal return that has an add back to income and
- allow for CPA firm mobility
We have a Board-approved Legislative Policy and we are delighted to have Helena attorney, Holly Franz, on board as our lobbyist again this session.
Your MSCPA committees and staff work the legislative session for you—we want and need your participation and input. Contact me (800.272.0307) with your ideas and watch for notices by email and in eConnect on the many ways you can make sure the CPA voice is heard in this session.