A guide to help you understand the ins and outs of business in Montana
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 merely the 43rd most populous in the country, with only 1.07 million residents. Montana had a gross domestic product of $52,935,000,000 in 2019. Tourism, outdoor recreation, agriculture, manufacturing, hi-tech, and data centers
Montana’s largest industries. The agriculture industry accounts for $3.5 billion per year. Of that $3.5 billion, about $1.5 billion is from livestock. The state has approximately 12,000 dairy cows, 4 million beef cattle, 200,000 sheep, and 200,000 pigs. In 2019, there was 1.3 million lbs. of wool from sheep and nearly 15 million lbs. of honey produced in Montana. The state is the second largest producer of honey in the country.
In 2019, Montana exported $279,758 to Qatar with its top exports being: Nuclear reactors, boilers, machinery, etc. Art of stone, plaster, cement, asbestos, mica, etc. Electric machinery, sound/tv equipment
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Montana has a corporate income tax rate of 6.75% across the board. There are three free trade zones in Great Falls, Sweetgrass, and Butte-Silver Row. 15 tax credits, 8 loan programs, 7 tax deductions, 6 grants and 5 tax exemptions make up the 40 total incentive programs in the state.