reglab/housing_qa huggingface dataset:
MT Code § 15-30-3003 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 30. Special Income Tax Applications|15-30-3003. Montana farm and ranch risk management account -- deposits -- exclusion from income

  15-30-3003. (Temporary) Montana farm and ranch risk management account -- deposits -- exclusion from income. (1) An individual or a family farm corporation engaged in an eligible agricultural business may create a Montana farm and ranch risk management account, as provided in this part, to use as a risk management tool for the individual's or family farm corporation's agricultural business. The number of risk management accounts that may be created is limited to one for each individual or family farm corporation.  (2) Deposits to the account may be excluded from adjusted gross income as provided in 15-30-2110 in an amount not to exceed the lesser of 20% of the taxpayer's net income attributable to agricultural business included in federal adjusted gross income or $20,000 a year. For the purposes of this section, a taxpayer is considered to have made a deposit to an account if the deposit is made:   (a) during the tax year; or   (b) for a specific tax year if it is made within 3 1/2 months after the close of the tax year.   (3) A deposit not distributed within 3 years is considered to have been distributed to the taxpayer as provided in 15-30-3005.   (4) A portion of a deposit distributed within 6 months of the date deposited is income in the year for which an exclusion was taken. The taxpayer shall file a return or amended return as necessary to report the income in the appropriate year. (Terminates on occurrence of contingency--sec. 9, Ch. 262, L. 2001.)   15-30-3003. (Temporary -- effective January 1, 2024) Montana farm and ranch risk management account -- deposits -- exclusion from income. (1) An individual or a family farm corporation engaged in an eligible agricultural business may hold a Montana farm and ranch risk management account that is composed of contributions that were made to the account prior to January 1, 2024, as provided in this part, to use as a risk management tool for the individual's or family farm corporation's agricultural business. The number of risk management accounts that may be held is limited to one for each individual or family farm corporation.  (2) For the purposes of this section, a taxpayer is considered to have made a deposit to an account if the deposit is made during a tax year beginning before January 1, 2024.   (3) A deposit not distributed within 3 years is considered to have been distributed to the taxpayer as provided in 15-30-3005.   (4) A portion of a deposit distributed within 6 months of the date deposited is income in the year for which an exclusion was taken. The taxpayer shall file a return or amended return as necessary to report the income in the appropriate year. (Terminates on occurrence of contingency--sec. 9, Ch. 262, L. 2001.)   History: En. Sec. 3, Ch. 262, L. 2001; Sec. 15-30-603, MCA 2007; redes. 15-30-3003 by Sec. 1, Ch. 147, L. 2009; amd. Sec. 14, Ch. 308, L. 2015; amd. Sec. 24, Ch. 503, L. 2021.
MT Code § 15-30-3004 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 30. Special Income Tax Applications|15-30-3004. Montana farm and ranch risk management account -- creation -- administration

  15-30-3004. (Temporary) Montana farm and ranch risk management account -- creation -- administration. (1) A Montana farm and ranch risk management account is a trust created or organized in the state for the exclusive benefit of the taxpayer. The account trustee must be a financial institution, other than an investment adviser, as defined in 15-62-103, supervised by the United States or by the state of Montana. The trust must be created by written instrument.  (2) The trustee may not accept any deposit for any tax year in excess of the amount allowed as a deduction under 15-30-3003.   (3) The trustee shall report to the department if a portion of a deposit is distributed within 6 months of the date of deposit.   (4) The assets of the trust must consist entirely of cash or of obligations that have adequate stated interest and that pay the interest at least annually.   (5) All income of the trust must be distributed currently to the grantor.   (6) The assets of the trust may not be commingled with other property except in a common trust fund or common investment fund. (Terminates on occurrence of contingency--sec. 9, Ch. 262, L. 2001.)   15-30-3004. (Temporary -- effective January 1, 2024) Montana farm and ranch risk management account -- creation -- administration. (1) A Montana farm and ranch risk management account is a trust created or organized in the state for the exclusive benefit of the taxpayer. The account trustee must be a financial institution, other than an investment adviser, as defined in 15-62-103, supervised by the United States or by the state of Montana. The trust must be created by written instrument.  (2) The trustee shall report to the department if a portion of a deposit is distributed within 6 months of the date of deposit.   (3) The assets of the trust must consist entirely of cash or of obligations that have adequate stated interest and that pay the interest at least annually.   (4) All income of the trust must be distributed currently to the grantor.   (5) The assets of the trust may not be commingled with other property except in a common trust fund or common investment fund. (Terminates on occurrence of contingency--sec. 9, Ch. 262, L. 2001.)   History: En. Sec. 4, Ch. 262, L. 2001; amd. Sec. 1, Ch. 566, L. 2003; Sec. 15-30-604, MCA 2007; redes. 15-30-3004 by Sec. 1, Ch. 147, L. 2009; amd. Sec. 25, Ch. 503, L. 2021.
MT Code § 15-30-3101 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3101. Purpose

  15-30-3101. (Temporary) Purpose. Pursuant to 5-4-104, the legislature finds that the purpose of student scholarship organizations is to provide parental and student choice in education with private donations through tax replacement programs. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)  History: En. Sec. 7, Ch. 457, L. 2015; amd. Sec. 1, Ch. 480, L. 2021.
MT Code § 15-30-3102 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3102. Definitions

  15-30-3102. (Temporary) Definitions. As used in this part, the following definitions apply:  (1) "Department" means the department of revenue provided for in 2-15-1301.   (2) "Donation" means a gift of cash.   (3) "Eligible student" means a student who is a Montana resident and who is 5 years of age or older on or before September 10 of the year of attendance and has not yet reached 19 years of age.   (4) "Innovative educational program" includes any of the following:   (a) transformational learning as defined in 20-7-1602;   (b) advanced opportunity as defined in 20-7-1503;   (c) any program, service, instructional methodology, or adaptive equipment used to expand opportunity for a child with a disability as defined in 20-7-401;   (d) any courses provided through work-based learning partnerships or for postsecondary credit or career certification; and   (e) technology enhancements, including but not limited to any expenditure incurred for purposes specified in 20-9-533.   (5) "Partnership" has the meaning provided in 15-30-2101.   (6) "Pass-through entity" has the meaning provided in 15-30-2101.   (7) "Qualified education provider" means an education provider that:   (a) is not a public school;   (b) (i) is accredited, has applied for accreditation, or is provisionally accredited by a state, regional, or national accreditation organization; or   (ii) is a nonaccredited provider or tutor and has informed the child's parents or legal guardian in writing at the time of enrollment that the provider is not accredited and is not seeking accreditation;   (c) is not a home school as referred to in 20-5-102(2)(e);   (d) satisfies the health and safety requirements prescribed by law for private schools in this state; and   (e) qualifies for an exemption from compulsory enrollment under 20-5-102(2)(e) and 20-5-109.   (8) "Small business corporation" has the meaning provided in 15-30-3301.   (9) "Student scholarship organization" means a charitable organization in this state that:   (a) is exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code, 26 U.S.C. 501(c)(3);   (b) allocates not less than 90% of its annual revenue from donations eligible for the tax credit under 15-30-3111 for scholarships to allow students to enroll with any qualified education provider; and   (c) provides educational scholarships to eligible students without limiting student access to only one education provider.   (10) "Taxpayer" has the meaning provided in 15-30-2101. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)   History: En. Sec. 8, Ch. 457, L. 2015; amd. Sec. 2, Ch. 480, L. 2021.
MT Code § 15-30-3103 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3103. Requirements for student scholarship organizations

  15-30-3103. (Temporary) Requirements for student scholarship organizations. (1) A student scholarship organization:  (a) shall obligate at least 90% of its annual revenue from donations eligible for the tax credit under 15-30-3111 for scholarships. For the purpose of this calculation:   (i) the cost of the annual fiscal review provided for in 15-30-3105(1)(b) may be paid out of the total donations before calculation of the 90% minimum obligation amount; and   (ii) all donations subject to the 90% minimum obligation amount that are received in 1 calendar year must be paid out in scholarships within the 3 calendar years following the donation.   (b) may not restrict or reserve scholarships for use at a particular education provider or any particular type of education provider and shall allow an eligible student to enroll with any qualified education provider of the parents' or legal guardian's choice;   (c) shall provide scholarships to eligible students to attend instruction offered by a qualified education provider;   (d) may not provide a scholarship to an eligible student for an academic year that exceeds the per-pupil average of total public school expenditures calculated in 20-9-570;   (e) shall maintain separate accounts for scholarship funds and operating funds;   (f) may transfer funds to another student scholarship organization;   (g) shall maintain an application process under which scholarship applications are accepted, reviewed, approved, and denied; and   (h) shall comply with payment and reporting requirements in accordance with 15-30-3104 and 15-30-3105.   (2) An organization that fails to satisfy the conditions of this section is subject to termination as provided in 15-30-3113. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)   History: En. Sec. 9, Ch. 457, L. 2015; amd. Sec. 3, Ch. 480, L. 2021.
MT Code § 15-30-3104 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3104. Tuition payment limitation

  15-30-3104. (Temporary) Tuition payment limitation. (1) A student scholarship organization shall deliver the scholarship funds directly to the qualified education provider selected by the parents or legal guardian of the child to whom the scholarship was awarded. The qualified education provider shall immediately notify the parents or legal guardian that the payment was received.  (2) A parent or legal guardian of an eligible student may not accept one or more scholarship awards from a student scholarship organization for an eligible student if the total amount of the awards exceeds the per-pupil average of total public school expenditures calculated in 20-9-570. This limitation applies to each eligible student of a parent or legal guardian. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)   History: En. Sec. 10, Ch. 457, L. 2015; amd. Sec. 4, Ch. 480, L. 2021.
MT Code § 15-30-3105 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3105. Reporting requirements for student scholarship organizations

  15-30-3105. (Temporary) Reporting requirements for student scholarship organizations. (1) Each student scholarship organization shall:  (a) submit a notice to the department of its intent to operate as a student scholarship organization prior to accepting donations;   (b) complete an annual fiscal review of its accounts by an independent certified public accountant within 120 days after the close of the calendar year that discloses for each of the 3 most recently completed calendar years:   (i) the total number and dollar value of individual and corporate contributions;   (ii) the total number and dollar value of scholarships obligated to eligible students;   (iii) the total number and dollar value of scholarships awarded to eligible students; and   (iv) the cost of the annual fiscal review;   (c) submit the annual fiscal review report to the department within 150 days of the close of the calendar year.   (2) The department shall provide written notice to a student scholarship organization that fails to submit the annual fiscal review report, and the organization has 30 days from receipt of the notice to submit the report.   (3) An organization that fails to satisfy the conditions of this section is subject to termination as provided in 15-30-3113. (Terminates December 31, 2029--sec. 20, Ch. 480, L. 2021.)   History: En. Sec. 11, Ch. 457, L. 2015.
MT Code § 15-30-3106 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3106. Student scholarship organizations -- listing on website

  15-30-3106. (Temporary) Student scholarship organizations -- listing on website. The department shall maintain on its website a hyperlink to a current list of all:  (1) student scholarship organizations that have provided notice pursuant to 15-30-3105(1)(a); and   (2) qualified education providers that accepted scholarship funds from a student scholarship organization. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)   History: En. Sec. 12, Ch. 457, L. 2015; amd. Sec. 5, Ch. 480, L. 2021.
MT Code § 15-30-3107 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3107. through 15-30-3109 reserved

  15-30-3107 through 15-30-3109 reserved.
MT Code § 15-30-3112 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3112. Report to revenue interim committee -- student scholarship organizations

  15-30-3112. (Temporary) Report to revenue interim committee -- student scholarship organizations. Each biennium, the department shall provide to the revenue interim committee, in accordance with 5-11-210, a list of student scholarship organizations receiving contributions from businesses and individuals that are granted tax credits under 15-30-3111. The listing must detail the tax credits claimed under the individual income tax in chapter 30 and the corporate income tax in chapter 31. (Terminates December 31, 2029--sec. 20, Ch. 480, L. 2021.)  History: En. Sec. 15, Ch. 457, L. 2015; amd. Sec. 11, Ch. 163, L. 2019.
MT Code § 15-30-3113 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3113. Review determination -- termination -- confidentiality

  15-30-3113. (Temporary) Review determination -- termination -- confidentiality. (1) Subject to subsection (7), the department is authorized to examine any books, papers, records, or memoranda relevant to determining whether a student scholarship organization is in compliance with 15-30-3102, 15-30-3103, and 15-30-3105.  (2) If a student scholarship organization is not in compliance, the department shall provide to the organization written notice of the specific failures and the organization has 30 days from the date of the notice to correct deficiencies. If the organization fails to correct all deficiencies, the department shall provide a final written notice of the failure to the organization. The organization may appeal the department's determination of failure to comply according to the uniform dispute review procedure in 15-1-211 within 30 days of the date of the notice.   (3) (a) If a student scholarship organization does not seek review under 15-1-211 or if the dispute is not resolved, the department shall issue a final department decision.   (b) The final department decision for a student scholarship organization must provide that the student scholarship organization:   (i) will be removed from the list of eligible student scholarship organizations provided in 15-30-3106 and notified of the removal; and   (ii) shall within 15 calendar days of receipt of notice from the department of removal from the eligible list cease all operations as a student scholarship organization and transfer all scholarship account funds to a properly operating student scholarship organization.   (4) A student scholarship organization that receives a final department decision may seek review of the decision from the Montana tax appeal board pursuant to 15-2-302.   (5) Either party aggrieved as a result of the decision of the Montana tax appeal board may seek judicial review pursuant to 15-2-303.   (6) If a student scholarship organization files an appeal pursuant to this section, the organization may continue to operate until the decision of the court is final.   (7) The identity of donors who make donations to school districts to support innovative educational programs or donations to a student scholarship organization is confidential tax information that is subject to the provisions of 15-30-2618. (Terminates December 31, 2029--secs. 20 and 24(6), Ch. 480, L. 2021.)   History: En. Sec. 16, Ch. 457, L. 2015; amd. Sec. 41, Ch. 142, L. 2021; amd. Sec. 18, Ch. 480, L. 2021.
MT Code § 15-30-3114 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 31. Tax Credit for Qualified Education Contributions|15-30-3114. Rulemaking

  15-30-3114. (Temporary) Rulemaking. The department may adopt rules, prepare forms, and maintain records that are necessary to implement and administer this part. (Terminates December 31, 2029--sec. 20, Ch. 480, L. 2021.)  History: En. Sec. 17, Ch. 457, L. 2015.
MT Code § 15-30-3301 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3301. Definition of small business corporation

  15-30-3301. Definition of small business corporation. (1) Except as provided in subsection (2), the term "small business corporation" is synonymous with "S. corporation" as defined in 15-30-2101 and means a corporation for which a valid election under section 1362 of the Internal Revenue Code (26 U.S.C. 1362) is in effect.   (2) A corporation that would otherwise be a small business corporation may continue to be subject to the taxes imposed by Title 15, chapter 31, if all of the following conditions are met:   (a) on December 31, 1991, the corporation was doing business in Montana and had a valid subchapter S. corporation election but had not elected to be taxed as a Montana small business corporation;   (b) after December 31, 1991, the corporation has not filed as a Montana small business corporation; and   (c) the corporation files a corporate income tax return, as required by 15-31-111, reporting all income or loss as determined under Title 15, chapter 31, and attaches a copy of the federal subchapter S. corporate tax return.   History: En. 84-1501.1 by Sec. 1, Ch. 122, L. 1959; amd. Sec. 1, Ch. 405, L. 1977; R.C.M. 1947, 84-1501.1(a), (b); amd. Sec. 1, Ch. 667, L. 1983; amd. Sec. 1, Ch. 534, L. 1989; amd. Sec. 6, Ch. 807, L. 1991; amd. Sec. 13, Ch. 143, L. 2001; Sec. 15-31-201, MCA 1999; redes. 15-30-1101 by Sec. 16(2), Ch. 143, L. 2001; Sec. 15-30-1101, MCA 2007; redes. 15-30-3301 by Sec. 1, Ch. 147, L. 2009; amd. Sec. 7, Ch. 268, L. 2013.
MT Code § 15-30-3303 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3303. through 15-30-3310 reserved

  15-30-3303 through 15-30-3310 reserved.
MT Code § 15-30-3311 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3311. Taxation of partners, shareholders, managers, and members

  15-30-3311. Taxation of partners, shareholders, managers, and members. (1) A partner of a partnership that has Montana source income and a resident who is a partner of a partnership during any part of the tax year shall, in computing net income, include the partner's distributive share of partnership income, gain, loss, deduction, or credit or item of income, gain, loss, deduction, or credit as determined pursuant to section 704 of the Internal Revenue Code (26 U.S.C. 704) and shall furnish a copy of the partner's federal schedule of the partner's share of income, deductions, and credits when filing the Montana tax return.   (2) A shareholder of an S. corporation that has Montana source income and a resident who is a shareholder of an S. corporation during any part of the tax year shall, in computing net income, include the shareholder's pro rata share of separately and nonseparately stated S. corporation income, loss, deduction, or credit as determined pursuant to sections 1366 and 1377 of the Internal Revenue Code (26 U.S.C. 1366 and 1377) and shall furnish a copy of the shareholder's federal schedule of the shareholder's share of income, deductions, and credits when filing the Montana tax return.   (3) A partner, shareholder, manager, member, or other owner of a disregarded entity that has Montana source income and a resident who is a partner, shareholder, manager, member, or other owner of a disregarded entity during any part of the tax year shall, in computing net income, include the disregarded entity's income, gain, loss, deduction, or credit or item of income, gain, loss, deduction, or credit.   History: En. Sec. 3, Ch. 143, L. 2001; Sec. 15-30-1111, MCA 2007; redes. 15-30-3311 by Sec. 1, Ch. 147, L. 2009.
MT Code § 15-30-3314 (2021)
2021 Montana Code Annotated|Title 15. Taxation|Chapter 30. Individual Income Tax|Part 33. Small Business and Pass-Through Entities|15-30-3314. Review of pass-through entity taxation by department

  15-30-3314. Review of pass-through entity taxation by department. The department shall review, with the assistance of interested parties, the reporting and taxation of income that is flowing through pass-through entities and the method of reporting and taxation of this income in states other than Montana and shall consider recommendations concerning the methodology that Montana should use to ensure fair and equitable taxation of income that flows through pass-through entities to other entities.   History: En. Sec. 15, Ch. 143, L. 2001; amd. Sec. 2, Ch. 318, L. 2005; Sec. 15-30-1114, MCA 2007; redes. 15-30-3314 by Sec. 1, Ch. 147, L. 2009.