Missoula, MT – According to the state officials, right now, the credit is equal to 3 percent of the federal Earned Income Tax Credit.
In 2024, the amount will increase to 10 percent of the federal credit.
The credit is still refundable, meaning that if it exceeds the total amount of taxes owed, the taxpayer will receive the difference.
Qualifications to claim the credit were unchanged.
Eligible taxpayers will see the increase on their 2024 Form 2, filed in 2025.
More information here.
This story will be updated as new information become available.
