• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Digital News Updates
  • Home
  • News
  • Politics
  • Business

Montana Business Owners Notified to Report Equipment for 2025 Tax Year

December 14, 2024

The Montana Department of Revenue has issued a reminder to business owners with equipment reporting requirements to submit their reports for Tax Year 2025. Businesses and individuals owning business equipment with a total market value exceeding $1 million statewide as of January 1, 2025, must file their reports by March 1, 2025, to avoid a 20% penalty.

Businesses with equipment valued at $1 million or less statewide are exempt from the business equipment tax and are not required to file a report for 2025 unless specific conditions apply:

  1. New personal property has been acquired, increasing the equipment’s total market value above the $1 million threshold.
  2. The Department of Revenue has specifically requested a personal property reporting form.

To streamline the process, business owners are encouraged to report through the department’s TransAction Portal (TAP). The online system features pre-populated reporting forms based on the equipment data submitted in 2024. Business owners can review and update their equipment details by adding or removing assets. Upon submission, an immediate confirmation receipt will be provided.

The department emphasizes the importance of timely reporting to ensure compliance and avoid penalties. Business owners with questions or concerns are encouraged to contact the Montana Department of Revenue for assistance.

By: DNU staff

Filed Under: Business, News

No related articles Found.

Primary Sidebar

— Advertisement —

Digital News Updates Logo

Recent News Posts

  • North Dakota Schools Chief Kirsten Baesler Confirmed as U.S. Assistant Secretary of Education
  • Governor Gianforte Praises $1.5 Million Expansion of Western Montana State Veterans Cemetery
  • Montana Coal Board Awards $1.8 Million for Public Safety and Infrastructure Projects
  • Watchdog says Biden Education Department defied court order on Title IX enforcement

Recent Politics Posts

  • Daines Introduces Bill to Protect Religious Student Groups on College Campuses
  • USITC Advances Probe Into Russian Palladium Imports After Montana Delegation Push
  • Knudsen Leads 27-State Coalition Challenging California’s Magazine Ban
  • Zinke Votes for Short-Term Funding Bill to Avert Government Shutdown

Recent Business Posts

  • Wall Street Rallies to Fresh Highs After Fed Rate Cut
  • Governor Gianforte Welcomes Rivian as First Electric Vehicle Manufacturer in Montana
  • Montana State opens quantum computing facility
  • Warren Buffett Marks 95th Birthday With Reflection on Legacy, Berkshire’s Future

Copyright © 2025 Digital News Updates, All Rights Reserved.