EAST HELENA — EAST HELENA - Gov. Greg Gianforte visited the Diehl Ranch Company on Monday to discuss the impacts of his Montana Comeback Plan and to learn how his — and the 2021 Montana Legislature's — policies have affected local businesses.
The Business Investment Grows (BIG) Jobs Act — H.B. 303 — was key legislation supported by the Gianforte Administration during the 2021 Legislature.
The new law has tripled the equipment tax exemption limit from $100,000 to $300,000. Montana businesses are exempt from taxes on purchases made on equipment up to this amount. This is meant to allow Montana businesses to pay less in taxes and have money to reinvest back into their companies.
“You know, equipment’s essential to run an operation like this. This is why the BIG Jobs Act really allowed them to pay less tax on the equipment that's so essential whether it's a combine or a tractor,” says Gianforte.
Mark Diehl of Diehl Ranch Co. said that in 1977 a brand new John Deere combine harvester cost around $37,000 but to buy a replacement combine with a header today would cost approximately $750,000.
Diehl says that this tax break could allow his ranch the possibility of better and newer equipment.
“This could infuse us with the possibility of getting better and newer equipment to stay here and to produce food and fiber and meat for a generation of Montanans, so,” says Diehl.
Gianforte says that this policy will take approximately 3,600 businesses off the tax roll entirely in Montana.