Montana revenue officials expect an average $72M annual funding loss to federal tax breaks

Federal tax cuts passed into law this week are likely to cut into Montana state revenue by $70 million a year, Montana’s Department of Revenue reported Friday.

Corporate income tax breaks, individual income tax deductions and the potential elimination of federal royalty payments would cut state revenue by $70.3 million in tax year 2018, Revenue Director Mike Kadas said.

By TOM LUTEY [email protected]

http://mtstandard.com/news/state-and-regional/montana-revenue-officials-expect-an-average-m-annual-funding-loss/article_3ce72254-e093-58eb-b86d-26d04f003ce8.html