![]() ![]() The August 2023 CPI summary has been released by the U.S. These adjustments reflect the average chained Consumer Price Index (CPI) for all-urban customers (C-CPI-U) for the 12-month period ending the previous August 31. ![]() Taxpayers will use the federal filing status to determine their tax rate, much like how tax is calculated federally.Many tax, expensing, and penalty figures are adjusted annually for cost-of-living increases. The brackets will decrease from seven to two and the new rates will be 4.7% and 6.5%. Lastly, Montana taxpayers will see a reduction in the number of tax brackets and a decrease in the tax rate. They are eligible for the 30% net-long term capital gain subtraction.
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