Montana Dept. of Revenue: Business Owners Must Report Equipment by March 1

From Montana Department of Revenue

HELENA — It’s time for businesses to report the equipment they own to the Montana Department of Revenue.  Owners can report online using the department’s Trans Action Portal — TAP — at https://tap.dor.mt.gov .

The reporting deadline is March 1. The deadline must be met to avoid a 20 percent penalty. 

All businesses must report the equipment they owned as of Jan. 1  if the market value of their business equipment is more than $100,000 statewide. Owners must file the report even if there were no changes to their business equipment or if they closed or sold their business.  

Those businesses whose statewide market value of equipment is $100,000 or less are exempt from taxation and do not have a reporting requirement.  

Business equipment includes items such as furniture and fixtures, heavy equipment, manufacturing and mining equipment, farm and ranch equipment, oil and gas equipment, and miscellaneous equipment.  

All business equipment reported for 2020 is pre-populated to a business owner’s 2021 report. Businesses can use the sort and filter functions to quickly locate assets that need to be updated or deleted. After the report is submitted, the department will send an immediate confirmation receipt.  

For more information, people can visit http://MTRevenue.gov or contact the department at 406-444-6900 or [email protected].