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Montana residents tend to average in the middle of nationwide rankings when considering various dimensions of tax collection. For example, Montanans pay approximately $1,347 per person in property taxes each year, which is 24th highest in the United States. The state's top individual income tax rate of 6.9% ranks 14th highest among all states that collect individual income taxes. Those state and local income taxes collected average $817 per resident, which ranks 23rd lowest nationally.
Montana does even better when looking at federal income taxes. State residents pay an average of $8,120 in federal income taxes each year, compared to a national average of $11,715.
On the other hand, Montanans have the 12th lowest median household income at $44,132, and that amount represents a decline of 10% in recent years. Because residents have less money to meet the rising costs of groceries, rent, medical bills, and utilities, they often have no savings set aside to pay their tax bills as April approaches. When faced with urgent, pressing financial needs, paying taxes is easy to overlook when allocating what little monetary resources a person has. Not having set aside enough money to pay local, state, and federal taxes, many Montanans face the difficult situation of having increasing tax debts and not knowing how to address them.
Increasingly, residents of Montana are turning to tax relief as a means of getting out of their serious tax issues. Tax relief companies help clients to address their mounting tax debts and alleviate the pressure of dealing with federal and state tax authorities, and can often help their clients significantly reduce their overall tax debt. To do this, tax relief experts use tools such as Offer in Compromise or Installment Agreements with the IRS, audit representation and reconsideration, and tax return review.
Tax Relief In The News
Less than nine months after state lawmakers shelved a tax break for airlines like Delta when the company snubbed the National Rifle Association, all was forgiven Saturday. Breaking marketing ties with ...
Published: Sat, 17 Nov 2018 08:27:00 GMT
What's an elected official to do, in an election year, when there's a possibility that sitting on his or her hands could mean an additional $1.2 billion to spend Here's a hint from Senate Majority Le...
Published: Thu, 15 Nov 2018 15:25:00 GMT
Washington November 16, 2018 - Senators Dianne Feinstein and Kamala Harris (both D-Calif.) joined with Senators Richard Burr (R-N.C.), Thom Tillis (R-N.C.), Lindsey Graham (R-S.C.), Tim Scott ...
Published: Fri, 16 Nov 2018 09:16:00 GMT
WESTFORD -- Disabled residents in town will soon be able to access new property tax exemptions up to $2,000 after a law approving the local change was formally signed by Gov. Charlie Baker. Efforts to ...
Published: Fri, 16 Nov 2018 02:35:00 GMT
Casino junket operators are asking Macau's government for tax relief and more help in chasing down VIP gambling debtors. Tuesday's edition of the Macau Gaming Summit 2018 saw junket operators ...
Published: Thu, 15 Nov 2018 00:06:00 GMT
KINGSTON, N.Y. - The developer of the planned Star Vodka distillery and event venue in West Park has, for the time being, sharply reduced the amount of tax relief he is seeking. Charles Ferri now is s...
Published: Wed, 14 Nov 2018 13:17:00 GMT
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