Capital Gains Rates
The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent). Montana allows for a 2.0% credit in combined State and Local capital gains rates.
Montana allows for a deduction of all federal taxes actually paid in cash during the year. The deduction is equal to federal taxes withheld from your paycheck during the year, plus any estimated payments made during the year, plus any federal taxes paid with your prior year’s tax return during the year. The amount of the deduction is limited to $5,000 for single filers and $10,000 for married filing jointly. 2015 tax information. Bracket levels adjusted for inflation each year. Release dates for tax bracket inflation adjustments vary by state and may fall after the end of the applicable tax year. These states allow some or all of federal income tax paid to be deducted from state taxable income. Montana filers' standard deduction is 20% of AGI. For single taxpayers, the deduction must be between $1,940 and $4,370. For married taxpayers, the deduction must be between $3,880 and $8,740.
Investor's Guidebook to Fractional 1031 Replacement Properties