The fiduciary files and pays income tax on behalf of the estate or trust.
Estate and Trust Tax Rates | |||
---|---|---|---|
Ordinary Tax Rates | |||
If your taxable income without long-term capital gains is | But less than | Then your tax rate is | Less |
$0 | $20,500 | 4.7% | $0 |
$20,500 or greater | 5.9% | $246 | |
Long-Term Capital Gains Rates | |||
For net long-term capital gains above | But less than | The following tax rate applies | |
$0 | $20,500 minus ordinary income | 3.0% | |
$20,500 minus ordinary income | 4.1% | ||
If ordinary income exceeds $20,500 | 4.1% |
If your taxable income is more than | But not more than | Your Tax Rate is | Minus |
---|---|---|---|
$0 | $3,600 | 1% of your taxable income | $0 |
$3,600 | $6,300 | 2% of your taxable income | $36 |
$6,300 | $9,700 | 3% of your taxable income | $99 |
$9,700 | $13,000 | 4% of your taxable income | $196 |
$13,000 | $16,800 | 5% of your taxable income | $326 |
$16,800 | $21,600 | 6% of your taxable income | $494 |
$21,600 | 6.75% of your taxable income | $656 |
Calendar Year | April 15 |
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Fiscal Year | The 15th Day of the 4th month following the tax year end Example: If your fiscal year ends on June 30, your payment is due on October 15. |
If a due date falls on a weekend or holiday, it is due on the next business day. |
A fiduciary makes estimated payments if it the estate or trust expects to owe at least $500 in the current tax year or owed at least $500 in the previous tax year.
Estimated payments are due on the 15th of the month following the end of the calendar quarter:
First Quarter | April 15 |
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Second Quarter | June 15 |
Third Quarter | September 15 |
Fourth Quarter | January 15 |
Payments made with an extension do not count as estimated payments and will be subject to penalties and interest. |
An estate or trust's estimated payments must be whichever is smaller between
If an estate or trust's estimated payments do not meet the requirements, the tax will be subject to penalties and interest.
Report annually using the Montana Income Tax Return for Estates and Trusts (Form FID-3).
Filing options include:
Payment options include: