Tax Break Helps Business Owners - KULR-8 Television, Billings, MT

Tax Break Helps Business Owners

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Some business owners can breathe a little easier in 2014.

Starting Wednesday, a reduction in the states' business equipment tax exempts business owners from paying taxes on their first $100,000 in equipment. The previous exemption was for businesses with less than $20,000 in equipment. Gainan's Chief Financial Officer, Curt Starr, said it will help 17,000 Montana businesses. "It's good news for everybody. Considering us we have nearly 85 employees, and we're still classified as a small business. But, for other small businesses who have 4 or 5 employees it will be a monstrous improvement," Starr said.

Curt said instead of paying $2,200 in equipment taxes in 2013, Gainan's business owners will only to pay about $180.