Entrepreneur Magnet Act attracts support and criticism

HELENA — Governor Greg Gianforte’s proposed budget, which he calls the “Montana Comeback Plan,” asks the Legislature to pass a series of tax cuts, including a cut to the top income tax bracket and several cuts to business taxes

One of those proposed cuts is in Senate Bill 184, which would eliminate capital gains tax for new businesses after 5 years.

Supporters said the bill would help bring more businesses to the state. Former Republican lawmaker Scott Sales spoke on behalf of the governor’s office at the bill’s hearing in the House Taxation Committee on Wednesday.