CCH Tax Day Report
A Montana corporate and personal income tax credit has been enacted for taxpayers that employ a registered apprentice who works in Montana, applicable to tax years beginning after December 31, 2017. The annual credit amount is generally $750 per apprentice, but the amount is increased to $1,500 for veteran apprentices. The credit is not available to the employer until after the apprentice has completed the apprentice training program’s probationary period, or 6 months, which is earlier. In addition, the credit cannot be claimed for more than 5 tax years for each individual apprentice. Further, the credit cannot exceed the taxpayer’s tax liability and cannot be carried forward or carried back.
Ch. 380 (H.B. 308), Laws 2017, effective January 1, 2018, applicable as noted