BozemanNine deals in one quarter
Bozeman software company Advisr was bought by Veylan in September 2025, one of nine deals with a Montana target that William & Wall counted that quarter.
William & Wall, 2025
Sell a business in Montana
When you sell a business in Montana, a net long-term gain is taxed on its own schedule, 3.0 and then 4.1 percent for 2025, below the 5.9 percent top rate on ordinary income. A non-compete is void except in the sale of a business, and then it must stay local.
ComplexityLowTax on the gain4.1% 2025Deal volumeVery low
Montana is among the eight states with the fewest employer businesses. The state's cut of the gain is modest, 4.1% at the top. Little else gets in the way of the sale.
Tax on the gain: Long-term gains have their own schedule; ordinary income tops at 5.9%.
Today
Where you stand
The market in Montana
Bozeman, home to Montana State University, has grown into a center for optics and photonics companies.
Bozeman holds one of the densest clusters of optics and photonics companies per capita in the country, seeded by Montana State University.
The elements this touches
- TmTime The years before you want out. It feeds the exit-readiness score and never moves the price; every other decision is planned against it.
ListenThe Montana briefing, read aloud
The deal team on what changes when you sell a business in Montana.
Before the letter of intent
What Montana takes
How is the gain taxed when you sell a business in Montana?
Net long-term capital gains are taxed on a separate two-rate schedule of 3.0 and 4.1 percent, below the ordinary income rates, and the state levies no estate or inheritance tax.
State tax on the gain
4.1%
Long-term gains have their own schedule; ordinary income tops at 5.9%.
Montana Legislature, 2025
A founder on film
On what he learned about tax on the way to the sale.
Lewis Titus Wastewater purification and manufacturing · Wyoming
Gains have their own schedule
Montana taxes net long-term capital gains on their own schedule, 3.0 percent then 4.1 percent, rather than at the ordinary income rates.
4.1 percent above $21,100
For a single filer in 2025 the 4.1 percent gains rate applies once Montana ordinary income passes about $21,100; below that, 3.0 percent.
No estate or inheritance tax
Montana is not among the twelve states with an estate tax or the five with an inheritance tax in the Tax Foundation's 2025 table.
The rate is the state's top rate on the gain for the year shown, the same figure as the indicator in the hero, so the two can never disagree.
The elements this touches
- TxTax Strategy The deal and entity structure, set before the letter of intent. FNDRS tracks whether it is in place. It never moves the price; it changes what you keep.
- ApAfter-Tax Proceeds What you keep at close. FNDRS records the pre-tax walk-away and the gap to your number. It never moves the price, and the tax on it is a question for your CPA.
Under contract and at closing
The rules of the sale
What are the rules for selling a business in Montana?
Non-competes are void by statute except in the sale of a business, where they must stay local and reasonable, and no dedicated broker license exists.
01Sale non-competes survive the ban
Montana voids contracts that restrain a trade or profession (MCA 28-2-703), but MCA 28-2-704 allows a non-compete tied to the sale of a business's goodwill.
LegalClarity
02Non-compete limited to nearby counties
A sale-of-business non-compete may cover only the city or county of the principal office plus adjacent ones, and must be limited in time.
NonCompete.com
03No business broker license
Montana has no license specific to business brokers; a real estate license (MCA 37-51-301) is needed only when real property is part of the sale.
HedgeStone Business Advisors
The elements this touches
- LcLegal & Compliance Contracts, licenses, and filings in order and enforceable. The FNDRS valuation reads it, and the score moves the multiple.
- DrData Room The documents a buyer will ask for, ready before they ask. FNDRS tracks it in the deal-readiness report card; it decides how fast and how cleanly a deal closes.
When the process opens
Who buys
Who shows up for a business in Montana
One 2025 quarter saw nine Montana companies change hands, a Bozeman software firm among them.
The elements this touches
- SyStrategic Synergy What one buyer gains that another cannot. The buyer at the table prices it, which is why the sell-side process goes looking for them.
Day 0, and the years after
After the close
What Montana lets the proceeds do
Montana's constitution bans perpetuities, so a perpetual dynasty trust is not available in-state; sellers who want one look to neighboring states.
Constitution bans perpetuities
Montana's constitution bans perpetuities, one of nine such states, so a truly perpetual trust cannot be set up under Montana law.
WealthWhere FNDRS comes in
Post-exit planning is the third act of the same engagement, done with outside experts, and it starts before the letter of intent, when a move or a trust can still change the answer.
FNDRSThe elements this touches
- EsEstate Architecture Trusts and ownership set up before the letter of intent. It changes what the family keeps, not what a buyer pays.
- ApAfter-Tax Proceeds What you keep at close. FNDRS records the pre-tax walk-away and the gap to your number. It never moves the price, and the tax on it is a question for your CPA.
People who walked it
Founders
Founders who worked with FNDRS, in their own words
From founders elsewhere
What founders say about working with FNDRS
No founder in Montana is quoted yet. These are founders in other states, quoted word for word, each described by role and state.
1 of 3
“I definitely don't think we'd be in the same spot without you guys.”
No founder in Montana is on film yet. These are founders in other states who worked with FNDRS.46 founders on film
Nearby
Other states in the West
| West | Tax on the gain | Complexity | Deal volume |
|---|---|---|---|
| Alaska | None 2025 | Very low | Very low |
| Arizona | 2.5% 2025 | Medium | High |
| California | 13.3% 2025 | Medium | Very high |
| Colorado | 4.4% 2025 | Low | Medium |
| Hawaii | 7.25% 2025 | Medium | Low |
| Idaho | 5.3% 2025 | Medium | Low |
| Nevada | None 2025 | Medium | Low |
| New Mexico | 5.9% 2025 | Medium | Low |
| Oregon | 9.9% 2025 | High | Medium |
| Utah | 4.5% 2025 | Medium | Medium |
| Washington | 9.9% 2025 | High | High |
| Wyoming | None 2025 | Low | Very low |
Your next step
The road starts with one step
Know where you stand in fifteen minutes, or talk the Montana sale through with a dealmaker. Either way, no pitch and no obligation.
Selling in Montana? Start with a conversation
No pitch and no obligation. If the honest answer is not yet, we will say so, and say what to work on.