Montana state tax basis is the Federal Adjusted Gross Income (AGI).
Interest/Divident Income: Interest and Divident income from U.S. government bonds are exempt from State Taxes.
Rent Income: Deduction for certain land sales to beginning farmers. State net
Capital Gain: 40% exclusion for installment sales entered into before 1987.
Unemployment Income: Unemployment income is exempt from state taxes.
Social Security Benefits: Separate state calculation of taxable amount
State Bond Interest: Taxable except Montana obligations
Health Savings Accounts: Taxable except Nebraska or its subdivisions' obligations
Disability: Up to $5,200 excluded
Federal Income Tax: Up to $5,000 ($10,000 M-J) deductible as itemized deduction
Other Taxes: Tip income excluded. Certain exemptions for MSA contributions
Check other state tax links below.