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MSU News Service

Summary: According to MSU Extension, as long as the money is left in the first-time homebuyer savings account – or withdrawn for eligible expenses – it is not subject to income taxation at the state lev

For those looking to buy a home for the first time, Montana State University Extension has a MontGuide available discussing how Montana law allows individuals to have a special savings account to pay for homebuyer expenses and reduce state income taxes.

According to Marsha Goetting, MSU Extension family economics specialist, as long as the money is left in the first-tim...