Monika Miles -Montana Taxes And Business Climate

This month, let’s take a journey out west to the state of Montana. It is the 43rd most populous and the 4th most extensive in land area of the 50 states. It is the largest landlocked U.S. State. It is slightly larger than Japan. It is the 4th largest state in the United States after Alaska, Texas and California.

The state has several nicknames, although none of them are official. They include “Big Sky Country” and the “Treasure State.” The state’s slogans include “Land of the Shining Mountains” and “The Last Best Place.”

The western half of Montana contains numerous mountain ranges. Smaller island ranges are found throughout the state. In all, 77 named ranges are part of the Rocky Mountains. The eastern half of Montana is characterized by western prairie terrain and badlands.

Business Climate

The economy is primarily based on agriculture, including ranching and cereal grain farming. Other significant economic resources include mineral extraction such as oil, gas, coal, hard rock mining, and lumber. The health care, service, and government sectors also are significant to the state’s economy.

The fastest growing sector is tourism. Nearly 13 million tourists visit Glacier National Park, Yellowstone National Park, Beartooth Highway, Flathead Lake, Big Sky Resort, the site of the Battle of Little Bighorn, and other attractions each year. The state also has three of the five entrances to Yellowstone National Park.

Tax Climate

The top individual income tax rate is 6.9% and the top corporate income tax rate is 6.75%.
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