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

December 24, 2017 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

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