Montana: The Treasure State

In the Northwest of the United States, on the Canadian border, Montana stretches over 380,000 kmĀ². This makes it the fourth largest in the United States. Crossed by the Rocky Mountains, Montana is one of the Mountain States. Despite the large area, less than a million people live in the state, making it the third most sparsely populated state in the United States. According to ehuacom, the Treasure State nickname comes from the many natural resources Montana holds.

More than ever, business owners are choosing to build their businesses in Montana. You’ll find exceptional talent, an affordable cost of living and one of the best business climates in the nation in the Treasure State. It is not for nothing that the New York Times writes that although Silicon Valley gets the fame, the true hotbed of American entrepreneurship lies in Montana. Montanese are known as innovators, they have the highest rate of business start-ups in the country.

Montana Location Map

NUMEROUS SUCCESS STORIES

Michael Fitzgerald, founder of Submittable, praises Montana’s low costs for his company. This results in a higher profit margin. When he thinks back to the beginning, he says that the costs incurred and the start-up time of six months in Missoula were equivalent to the costs of one month in New York.

West Paw Designs founder Spencer Williams finds the work ethic of the Montana workforce to be very strong. In his eyes, people in Montana love to contribute to a team. He perceives his team as the most dedicated and hard working.

It’s not just American entrepreneurs who set up successfully in Montana. Over 250 international companies have expanded into the Treasure State. These companies employ some 9,100 American workers. A good 20 percent of the jobs created are in the manufacturing sector. Great Britain, Canada and France occupy the first three places in terms of the number of companies founded. From 2013 to 2018, Montana’s newly created employment attributable to FDI increased by over 21 percent. In the same period, the entire private sector achieved an increase of a good seven percent.

TOURISM AS A KEY INDUSTRY

Montana’s tourism industry is booming. So it’s no surprise that the outdoor recreation industry has had a major impact on the state. It creates over 70,000 jobs and the workers contribute $286 million to state and local tax revenues. In 2017, the Montana Office of Outdoor Recreation was created to ensure this industry can thrive and thrive. 12.5 million out-of-state visitors spent an estimated $3.7 billion on Montana’s Main Street shops, restaurants and hotels in 2018, making the tourism industry one of Montana’s largest sectors.

The state grows world-class wheat and barley, which is used in the growing craft beer industry in Montana and across the country. Montana Craft Malt is building the state’s first-ever malt house to support the craft beer industry with Montana-made malts. The Treasure State’s agriculture is also known for the production of lentils or oilseed rape.

Montana leads the nation in manufacturing industry growth. Since 2010, manufacturing employment in Montana has increased 21 percent, far outpacing the national increase of 8 percent. In addition to refineries, metal fabricators and food processors, advanced manufacturing sectors have settled in aerospace, photonics and industrial equipment.

INCOME TAX IN MONTANA

Montana collects an income tax of 1 – 6.9% depending on income. In addition, federal income taxes are payable.

MONTANA CORPORATE INCOME TAX

Montana charges a 6.75% corporate income tax. In addition, federal corporation tax is payable.

SALES TAX IN MONTANA

There is no sales tax or Value Added Tax (VAT) in the USA based on the European model. Instead, in the United States, states, counties, and municipalities levy a local sales tax on the sale of products (but not services).

Sales tax rate in Montana

There is no sales tax in Montana.