Bill > SB54

This bill modifies Montana's requirements for electronic tax payments by lowering the threshold for mandatory electronic funds transfer (EFT) from $500,000 to $50,000, meaning that tax payments of $50,000 or more must be made electronically. The bill also expands the Department of Revenue's rulemaking authority to include specifying acceptable electronic payment methods and providing an alternative payment option for taxpayers who cannot make electronic payments. Additionally, the bill clarifies that when the tax payment due date falls on a weekend or legal holiday, the payment can be made on the first business day after that day. These changes aim to modernize and streamline tax payment processes by encouraging electronic transactions while maintaining flexibility for taxpayers. The bill will apply to electronic funds transfers made after December 31, 2025, giving taxpayers and the Department of Revenue time to adapt to the new requirements.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC0100