1 contractors gross receipts 2026

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The document is a form (CGR-2) required by the Montana Department of Revenue for reporting 1% contractor's gross receipts. It must be completed and submitted within 30 days after payments to prime contractors or subcontractors. The form includes sections for entering details about the contract, payment amounts, and the entities involved, along with instructions for filing.

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Click ‘Get Form’ to open it in the editor.
In the first section, enter the federal employer identification number, business name, and address of the contractor awarded. Mark the appropriate box for 'Government Entity' or 'Prime Contractor'.
Next, fill in the details for the contract awarded to the subcontractor, including their federal identification number and address. Again, select either 'Prime Contractor' or 'Subcontractor'.
Enter the Government Issued Purchase Order Number and contract award date in their respective fields.
Indicate the month and year when this payment was earned.
Input the gross dollar amount due to the contractor or subcontractor.
Calculate 1% of the gross amount by multiplying it by .01 and enter this value.
Subtract line 7 from line 6 to find the net amount paid and record it.
Select the type of return you are filing and provide the payment date.
Describe the work performed under this contract and specify its location in Montana.
Finally, identify who is submitting this return by selecting an entity type, signing it, and providing contact information.

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What are gross receipts for a contractor?

Gross receipts include all revenue in whatever form received or accrued (in accordance with the entitys accounting method) from whatever source, including from the sales of products or services, interest, dividends, rents, royalties, fees, or commissions, reduced by returns and allowances.

What is the inheritance tax rate in Montana?

Montana does not have a sales tax. Montana has a 0.69 percent effective property tax rate on owner-occupied housing value. Montana does not have an estate tax or inheritance tax.

What is the 1% GRT in Montana?

Who is subject to the Montana public contractors 1% gross receipts tax? The tax applies to a contractor or subcontractor working on a public construction project located in Montana where the original contract cost, value, or price is more than $80,000, and the owner of the project is a public entity.

What is the formula for property tax in Montana?

Property taxes are equal to market value times tax rate, known as taxable value, times mill levies. One mill generates $1 for each $1,000 in taxable value. State and local entities play a role in making property tax policy, adopting budgets, and administering the tax.

What is a GRT rate?

The Gross Receipts Tax is calculated as a fixed percentage of a companys total revenue before any deductions or expenses. Each state that implements the GRT sets its own tax rate, which may vary by jurisdiction and type of business.

montana 1 gross receipts

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