reglab/housing_qa huggingface dataset:
MT Code § 15-30-3315 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3315. Electronic partnership return required -- waiver -- rulemaking

  15-30-3315. Electronic partnership return required -- waiver -- rulemaking. (1) Subject to subsection (4), each year, a partnership with more than 100 partners shall transmit to the department, in an electronic format approved by the department, all partnership returns, along with the corresponding U.S. department of treasury schedules K-1 and all other related forms and schedules that are required to be attached.   (2) If a partnership fails to file a partnership return electronically in the manner required in subsection (1), the partnership is considered to have failed to file the return and is subject to a penalty pursuant to 15-30-3302(5)(d).   (3) A partnership has more than 100 partners if, over the course of the partnership's tax year, the partnership had more than 100 partners, regardless of whether a partner was a partner for the entire year or whether the partnership had over 100 partners on any particular day in the year.   (4) The department may waive the electronic filing if the partnership demonstrates that software that satisfies the conditions of this section is not readily available or that a hardship will result if it is required to file electronically. A partnership requesting a waiver shall file a written request at least 30 days prior to the date the electronic filing is due.   (5) The department may adopt rules to administer and enforce the provisions of this section.   History: En. Sec. 1, Ch. 289, L. 2013.
MT Code § 15-30-3316 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3316. through 15-30-3320 reserved

  15-30-3316 through 15-30-3320 reserved.
MT Code § 15-30-3321 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3321. Small business option unavailable on dissolution -- exception

  15-30-3321. Small business option unavailable on dissolution -- exception. In the case of corporation dissolution, no benefits may be taken under the "small business act" or under any law or regulation shifting the tax to be paid from the corporation to the shareholders unless all shareholders agree to assume personal income tax liability the same as they would bear if they were residents of this state.   History: En. Sec. 2, Ch. 60, L. 1963; R.C.M. 1947, 84-1501.3; Sec. 15-31-203, MCA 1999; redes. 15-30-1121 by Sec. 16(2), Ch. 143, L. 2001; Sec. 15-30-1121, MCA 2007; redes. 15-30-3321 by Sec. 1, Ch. 147, L. 2009.
MT Code § 15-30-3402 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3402. State partnership representative

  15-30-3402. State partnership representative. (1) With respect to an action required or permitted to be taken by a partnership under this part and a proceeding under 15-1-211 with respect to that action, the state partnership representative for the reviewed year has the sole authority to act on behalf of the partnership, and the partnership's direct partners and indirect partners are bound by those actions.  (2) The state partnership representative for the reviewed year is the partnership's federal partnership representative unless the partnership designates in writing another person as its state partnership representative.   (3) The department may establish reasonable qualifications and procedures for designating a person, other than the federal partnership representative, to be the state partnership representative.   History: En. Sec. 2, Ch. 108, L. 2021.
MT Code § 15-30-3403 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3403. Reporting and payment requirements for partnerships subject to final federal adjustment and their direct partners

  15-30-3403. Reporting and payment requirements for partnerships subject to final federal adjustment and their direct partners. (1) Except for final federal adjustments that are reported under the procedures set forth in 15-30-3404, the final federal adjustments required to be reported by taking those adjustments into account in the partnership return for the year of the adjustment or the distributive share of adjustments that have been reported as required under 15-30-2619, partnerships and direct partners shall report final federal adjustments arising from a partnership level audit or an administrative adjustment request pursuant to this section.  (2) No later than 90 days after the final determination date, the partnership shall:   (a) file a completed federal adjustments report, including information required by the department. A partnership that fails to file a timely completed federal adjustments report must be assessed a late file penalty as provided for in 15-30-3302(5)(d).   (b) notify each of its direct partners of their distributive share of the final federal adjustments, including information required by the department; and   (c) file an amended composite return for the reviewed year if direct partners participated in a composite tax return under 15-30-3312, file an amended information return for direct partners as required under 15-30-2619, and pay the additional amount of composite and withholding tax as required under 15-30-3312 and 15-30-3313 that would have been due had the final federal adjustments been reported properly as required.   (3) No later than 180 days after the final determination date, each direct partner that is taxed under chapter 30 or 31 shall:   (a) file an amended return for the reviewed year reporting their distributive share of the final federal adjustments reported to them under subsection (2)(b) as required under chapters 30 and 31; and   (b) pay any additional amount of tax due as if final federal adjustments had been properly reported, plus any penalty and interest due under 15-1-216, and less any credit for related amounts paid or withheld and remitted on behalf of the direct partner under subsection (2)(c).   History: En. Sec. 3, Ch. 108, L. 2021.
MT Code § 15-30-3405 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3405. Modified reporting and payment method

  15-30-3405. Modified reporting and payment method. Under procedures adopted by and subject to the approval of the department, an audited partnership or tiered partner may enter into an agreement with the department to utilize an alternative reporting and payment method, including applicable time requirements or any other provision of 15-30-3403 or 15-30-3404, if the audited partnership or tiered partner demonstrates that the requested method will reasonably provide for the reporting and payment of taxes, penalties, and interest due under the provisions of 15-30-3403 or 15-30-3404. Application for approval of an alternative reporting and payment method must be made by the audited partnership or tiered partner within the time for election as provided in 15-30-3403 or 15-30-3404, as appropriate.  History: En. Sec. 5, Ch. 108, L. 2021.
MT Code § 15-30-3406 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3406. Effect of election by audited partnership or tiered partner and payment of amount due

  15-30-3406. Effect of election by audited partnership or tiered partner and payment of amount due. (1) The election made pursuant to 15-30-3404 is irrevocable, unless the department, in its discretion, determines otherwise.  (2) If properly reported and paid by the audited partnership or tiered partner, the amount determined in 15-30-3404(1)(b), will be treated as paid in lieu of taxes owed by its direct and indirect partners, to the extent applicable, on the same final federal adjustment. The direct partners or indirect partners may not take any deduction or credit for this amount or claim a refund of the amount in this state. Nothing in this section shall preclude a direct resident partner from claiming:   (a) a credit against taxes paid to this state pursuant to 15-30-3313; or   (b) any amounts paid by the audited partnership or tiered partner on the resident partner's behalf to another state or local tax jurisdiction in accordance with the provisions of 15-30-2302.   (3) Nothing in this section prevents the department from assessing direct partners or indirect partners for taxes owed, using the best information available, in the event that a partnership or tiered partner fails to timely make any report or payment required by this section for any reason.   History: En. Sec. 6, Ch. 108, L. 2021.
MT Code § 15-30-3407 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3407. De minimis exception -- rulemaking

  15-30-3407. De minimis exception -- rulemaking. The department may, at its discretion, adopt rules establishing a de minimis amount on which a taxpayer may not be required to comply with 15-30-3403 and 15-30-3404.  History: En. Sec. 7, Ch. 108, L. 2021.
MT Code § 15-30-3408 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 34. Partnership Audit Adjustments|15-30-3408. Estimated tax payments during course of federal audit

  15-30-3408. Estimated tax payments during course of federal audit. A taxpayer may make estimated payments to the department, following the process prescribed by the department, of the Montana individual income or corporate income tax expected to result from a pending internal revenue service audit, prior to the due date of the federal adjustments report, without having to file the report with the department. The estimated tax payments must be credited against any tax liability ultimately found to be due to this state and will limit the accrual of further statutory interest on that amount. If the estimated tax payments exceed the final tax liability and statutory interest ultimately determined to be due, the taxpayer is entitled to a refund or credit for the excess, provided the taxpayer files a federal adjustments report or claim for refund or credit of tax pursuant to 15-30-2609 or 15-31-509, no later than 1 year following the final determination date.  History: En. Sec. 8, Ch. 108, L. 2021.
MT Code § 15-30-3701 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 37. Montana Entrepreneur Magnet Act|15-30-3701. Short title

  15-30-3701. Short title.This part may be cited as the "Montana Entrepreneur Magnet Act".  History: En. Sec. 1, Ch. 458, L. 2021.
MT Code § 15-30-3702 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 37. Montana Entrepreneur Magnet Act|15-30-3702. Definitions

  15-30-3702. Definitions. As used in this part, the following definitions apply:  (1) (a) "Capital stock" means voting or nonvoting common or preferred stock acquired as the result of employment or service as an employee or director with a corporation.   (b) The term does not include stock rights or debt securities.   (2) (a) "Corporation" means a corporation, as defined in 15-30-2101, including a unitary business, as described in 15-31-301.   (b) The term includes a predecessor or successor corporation.   (c) The term does not include either a business entity or a business entity with a financial interest in another business entity that is directly or indirectly engaged in a business activity that is illegal under federal law, regardless of how the business entity is organized.   (3) "Net long-term capital gain" has the meaning provided in section 1222(7) of the Internal Revenue Code, 26 U.S.C. 1222(7).   (4) "Predecessor or successor corporation" means a corporation that was party to a reorganization that was entirely or substantially tax-free and that occurred during or after the employment of an individual claiming the rate under 15-30-3704.   History: En. Sec. 2, Ch. 458, L. 2021.
MT Code § 15-30-3703 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 37. Montana Entrepreneur Magnet Act|15-30-3703. Taxation of qualifying net capital gains from sale of capital stock -- conditions -- rulemaking

  15-30-3703. Taxation of qualifying net capital gains from sale of capital stock -- conditions -- rulemaking. (1) For a taxpayer to qualify for the tax rate under 15-30-3704, as of the date on which the sale or exchange of capital stock is made by the taxpayer, the corporation must have:  (a) at least 60 consecutive months of new business activity in the state, with the first activity occurring on or after January 1, 2021;   (b) more than 50% of its corporate officers residing in the state for the previous 36 months;   (c) at least 30% of its employees residing in the state for the previous 12 months; and   (d) at least 25 full-time employees residing in the state for the previous 36 months.   (2) In order for a taxpayer to qualify for the tax rate under 15-30-3704, the corporation whose capital stock was sold or exchanged may not be organized primarily for the purpose of land or real estate investment and in no case may more than 50% of the capital gain from the sale be attributable to gains on real property.   (3) The department shall adopt rules to implement and administer this part.   History: En. Sec. 3, Ch. 458, L. 2021.
MT Code § 15-30-3704 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 37. Montana Entrepreneur Magnet Act|15-30-3704. Tax on qualifying net capital gains

  15-30-3704. Tax on qualifying net capital gains. Subject to the conditions of 15-30-3703, an alternative tax rate of 0% is imposed on the net long-term capital gain that is attributable to the sale or exchange of capital stock of a corporation.  History: En. Sec. 4, Ch. 458, L. 2021.
MT Code § 15-31-104 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-104. through 15-31-110 reserved

  15-31-104 through 15-31-110 reserved.
MT Code § 15-31-112 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-112. Taxable period

  15-31-112. Taxable period. The corporate income tax must be computed on the basis of the corporation's total net income for the taxable period. The corporation's taxable period is the same as the taxable year for federal income tax purposes. If a corporation changes its taxable year, it shall promptly notify the department.   History: En. Sec. 4, Ch. 79, L. 1917; re-en. Sec. 2299, R.C.M. 1921; amd. Sec. 1, Ch. 146, L. 1923; re-en. Sec. 2299, R.C.M. 1935; amd. Sec. 1, Ch. 165, L. 1947; amd. Sec. 1, Ch. 235, L. 1961; amd. Sec. 3, Ch. 186, L. 1963; amd. Sec. 1, Ch. 372, L. 1973; amd. Sec. 56, Ch. 516, L. 1973; amd. Sec. 1, Ch. 161, L. 1975; R.C.M. 1947, 84-1504(1); amd. Sec. 13, Ch. 268, L. 2013.
MT Code § 15-31-113 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-113. Gross income and net income

  15-31-113. Gross income and net income. (1) The term "gross income" means all income recognized in determining the corporation's gross income for federal income tax purposes and:   (a) including:   (i) interest exempt from federal income tax and exempt-interest dividends as defined in section 852(b)(5) of the Internal Revenue Code of 1986, as that section may be amended or renumbered;   (ii) the portion of gain from a liquidation of the reporting corporation not recognized for federal corporate income tax purposes pursuant to sections 331 through 337 of the Internal Revenue Code, as those sections may be amended or renumbered, attributable to stockholders, either individual or corporate, not subject to Montana income or corporate income tax under Title 15, chapter 30 or chapter 31, as appropriate, on the gain passing through to the stockholders pursuant to federal law; and   (b) excluding gain recognized for federal tax purposes as a shareholder of a liquidating corporation pursuant to sections 331 through 337 of the Internal Revenue Code, as those sections may be amended or renumbered, when the gain is required to be recognized by the liquidating corporation pursuant to subsection (1)(a)(ii) of this section.   (2) The term "net income" means the gross income of the corporation less the deductions set forth in 15-31-114.   (3) A corporation is not exempt from the corporate income tax unless specifically provided for under 15-31-101(3) or 15-31-102. Any corporation not subject to or liable for federal income tax but not exempt from the corporate income tax under 15-31-101(3) or 15-31-102 shall compute gross income for corporate income tax purposes in the same manner as a corporation that is subject to or liable for federal income tax according to the provisions for determining gross income in the federal Internal Revenue Code in effect for the taxable year.   History: En. Sec. 4, Ch. 79, L. 1917; re-en. Sec. 2299, R.C.M. 1921; amd. Sec. 1, Ch. 146, L. 1923; re-en. Sec. 2299, R.C.M. 1935; amd. Sec. 1, Ch. 165, L. 1947; amd. Sec. 1, Ch. 235, L. 1961; amd. Sec. 3, Ch. 186, L. 1963; amd. Sec. 1, Ch. 372, L. 1973; amd. Sec. 56, Ch. 516, L. 1973; amd. Sec. 1, Ch. 161, L. 1975; R.C.M. 1947, 84-1504(part); amd. Sec. 2, Ch. 483, L. 1981; amd. Sec. 2, Ch. 278, L. 1995; amd. Sec. 14, Ch. 268, L. 2013.
MT Code § 15-31-115 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-115. Reaffirmation of bond income inclusion in definition of net income for corporate income tax purposes

  15-31-115. Reaffirmation of bond income inclusion in definition of net income for corporate income tax purposes. Notwithstanding the provisions of any other law, the income from bonds or other obligations issued by any state or political subdivision of a state are included in gross and net income for purposes of the corporate income tax.   History: En. Sec. 3, Ch. 673, L. 1983; amd. Sec. 18, Ch. 130, L. 2005; amd. Sec. 16, Ch. 268, L. 2013.
MT Code § 15-31-116 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-116. Repealed

  15-31-116. Repealed. Sec. 1, Ch. 125, L. 1989.   History: En. Sec. 1, Ch. 673, L. 1983.
MT Code § 15-31-117 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-117. Tax deductibility

  15-31-117. Tax deductibility. (1) The amount of contributions made by a small business to its independent liability fund as defined in 33-27-103 is deductible to that small business on its Montana corporate income tax or alternative corporate income tax return for the taxable year in which the contributions are made to the fund.   (2) Administrative costs under 33-27-117(1), except those paid from the principal of an independent liability fund, are deductible on the Montana corporate income tax or alternative corporate income tax return for the taxable year in which they are paid or accrued.   (3) Income on the money, assets, and investments in an independent liability fund as defined in 33-27-103 may be contributed to the fund. If it is not so contributed, it is taxable in accordance with the applicable provisions of this chapter.   History: En. Secs. 10, 11, 15, Ch. 564, L. 1987; amd. Sec. 17, Ch. 268, L. 2013.
MT Code § 15-31-118 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-118. Taxable liability on termination of independent liability fund

  15-31-118. Taxable liability on termination of independent liability fund. If an independent liability fund established pursuant to Title 33, chapter 27, is terminated as provided in 33-27-119, the income from the principal distributed pursuant to 33-27-119(3) is taxable to that person or persons under the applicable provisions of this chapter.   History: En. Sec. 18, Ch. 564, L. 1987; amd. Sec. 2, Ch. 111, L. 2001.
MT Code § 15-31-120 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-120. reserved

  15-31-120 reserved.
MT Code § 15-31-121 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax|Part 1. Corporate Income Tax Rate and Return|15-31-121. Rate of tax -- minimum tax -- distribution of revenue

  15-31-121. Rate of tax -- minimum tax -- distribution of revenue. (1) Except as provided in subsection (2), the percentage of net income to be paid under 15-31-101 is 6 3/4% of all net income for the tax period.   (2) For a taxpayer making a water's-edge election, the percentage of net income to be paid under 15-31-101 is 7% of all taxable net income for the tax period.   (3) Each corporation subject to taxation under this part shall pay a minimum tax of not less than $50.   History: En. Sec. 1, Ch. 79, L. 1917; Subd. 16, amd. Sec. 1, Ch. 64, L. 1921; re-en. Sec. 2296, R.C.M. 1921; amd. Sec. 1, Ch. 166, L. 1933; re-en. Sec. 2296, R.C.M. 1935; amd. Sec. 1, Ch. 29, L. 1937; amd. Sec. 1, Ch. 92, L. 1937; amd. Sec. 1, Ch. 232, L. 1957; amd. Sec. 1, Ch. 264, L. 1959; amd. Sec. 1, Ch. 155, L. 1961; amd. Sec. 1, Ch. 269, L. 1965; amd. Sec. 1, Ch. 4, Ex. L. 1967; amd. Sec. 1, Ch. 11, Ex. L. 1969; amd. Sec. 1, Ch. 16, L. 1971; amd. Sec. 1, Ch. 333, L. 1971; amd. Sec. 1, Ch. 5, Ex. L. 1971; amd. Sec. 1, Ch. 7, 2nd Ex. L. 1971; amd. Sec. 1, Ch. 468, L. 1973; amd. Sec. 1, Ch. 484, L. 1973; amd. Sec. 1, Ch. 5, L. 1974; amd. Sec. 1, Ch. 257, L. 1977; R.C.M. 1947, 84-1501(part); amd. Sec. 7, Ch. 616, L. 1987; amd. Sec. 90, Ch. 11, Sp. L. June 1989; amd. Sec. 3, Ch. 15, Sp. L. July 1992; amd. Sec. 14, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994); amd. Sec. 31, Ch. 51, L. 1999; amd. Sec. 2, Ch. 521, L. 2003; amd. Sec. 35, Ch. 2, L. 2009.