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Montana

Overview

Montana is located in the northwest, bordering Idaho, North Dakota, South Dakota, Wyoming, and Canada to the north. Helena is the state's capital, while Billings is the largest city. Although Montana is the 4th largest state in terms of its total area, the state ranks as the 43rd most populous in the country, with 1.15 million residents. Montana's gross domestic product reached $63,000,000,000.

The top industries in Montana by overall economic contribution are real estate, rental, and leasing, healthcare and social assistance, and professional and business services, heavily supported by its foundational sectors in tourism, outdoor recreation, agriculture, manufacturing, hi-tech, and data centers. Montana's outdoor recreation economy continues to serve as an elite financial engine, generating over $3 billion in value added annually and supporting roughly 4.3% of the state's total workforce. The state also maintains a powerful agricultural footprint, ranking as a premier national leader in winter wheat production and beef cattle ranching.

Montana has no state sales tax and a flat corporate income tax rate of 6.75%. The state has no federal foreign-trade zones but offers various business incentive programs including the Business Equipment Tax Exemption, which reduces property liabilities, and financial assistance programs managed through the Montana Board of Investments. Additionally, while the state formerly operated an Empowerment Zone program, it has shifted focus toward newer statutory programs such as the Entrepreneur Magnet Act capital gains exemptions and corporate tax exemptions for new research and development firms.