reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-110. Electronic corporate income tax return required -- waiver -- rulemaking

15-31-110. Electronic corporate income tax return required -- waiver -- rulemaking.
(1) Subject to subsection (3), for income tax periods beginning after December 31, 2022, a corporation shall transmit to the department, in an electronic format approved by the department, the corporate income tax return required by 15-31-111, along with the corresponding federal income tax return filed with the internal revenue service and all other related forms and schedules required to be attached.
(2) Except as provided in subsections (3) through (5), for income tax periods beginning after December 31, 2023, if a corporation fails to file a corporate income tax return electronically in the manner required in subsection (1), the corporation is subject to a late filing penalty pursuant to 15-1-216(1).
(3) (a) For income tax periods beginning between January 1, 2023, and December 31, 2024, a corporation is not required to file a corporate income tax return electronically if it attests, on a form provided by the department, that the corporation attempted to file electronically but was unsuccessful in doing so or that hardship would result by filing electronically.
(b) The For income tax periods beginning after December 31, 2024, the department may waive the electronic filing if the corporation 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 corporation requesting a waiver shall file a written request at least 30 days prior to the date the electronic filing is due, including extensions for filing the return.
(4) (a) A corporation that has gross receipts of $750,000 or less in a tax period is exempt from the electronic filing requirements described in this section for that taxable period.
(b) For the purposes of this section, "gross receipts" means the total gross revenue of the corporation for the tax period from all sources, without any subtraction for costs or expenses.
(5) If the return required to be filed electronically is transmitted on or before the due date, including extensions, and the return is rejected, the department shall allow the filer 10 calendar days from the date of the first transmission to perfect the return for electronic resubmission.
(6) The department may adopt rules to administer and enforce the provisions of this section.
History: En. Sec. 1, Ch. 225, L. 2023.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-122. Alternative gross sales tax

15-31-122. (Temporary) Alternative gross sales tax.
Pursuant to the provisions of Article III, section 2, of the Multistate Tax Compact, every corporation deriving income from sources both within and without the state of Montana and required to file a return and whose only activity in Montana consists of making sales and which does not own or rent real estate or tangible personal property within Montana and whose annual gross volume of sales made in Montana during the taxable year does not exceed $100,000 may elect to pay a tax of 1/2 of 1% of gross sales made in Montana during the taxable year. Such tax shall be in lieu of the tax otherwise imposed under 15-31-101 and 15-31-121. The gross volume of sales made in Montana during the taxable year shall be determined according to the provisions of Article IV, sections 16 and 17, of the Multistate Tax Compact.
15-31-122. (Effective January 1, 2025) Alternative gross sales tax.
Pursuant to the provisions of Article III, section 2, of 15-1-601, every corporation deriving income from sources both within and without the state of Montana and required to file a return and whose only activity in Montana consists of making sales and which does not own or rent real estate or tangible personal property within Montana and whose annual gross volume of sales made in Montana during the taxable year does not exceed $100,000 may elect to pay a tax of 1/2 of 1% of gross sales made in Montana during the taxable year. Such tax shall be in lieu of the tax otherwise imposed under 15-31-101 and 15-31-121. The gross volume of sales made in Montana during the taxable year shall be determined according to the provisions of Article IV, sections 11 and 12, of 15-1-601.
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. 4, Ch. 51, L. 2023.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-123. Repealed

15-31-123. Repealed.
Sec. 4, Ch. 159, L. 2003.
History: En. 84-4960, 84-4961 by Secs. 1, 2, Ch. 412, L. 1977; R.C.M. 1947, 84-4960, 84-4961(part); amd. Sec. 3, Ch. 111, L. 1979; amd. Sec. 3, Ch. 520, L. 1981; amd. Sec. 2, Ch. 704, L. 1983; amd. Sec. 9, Ch. 20, L. 1985.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-124. Repealed

15-31-124. Repealed.
Sec. 3, Ch. 15, L. 2021.
History: En. 84-1520 by Sec. 2, Ch. 435, L. 1975; R.C.M. 1947, 84-1520; amd. Sec. 4, Ch. 694, L. 1991; amd. Sec. 32, Ch. 51, L. 1999; amd. Sec. 8, Ch. 591, L. 2001; amd. Sec. 3, Ch. 405, L. 2003.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-125. Repealed

15-31-125. Repealed.
Sec. 3, Ch. 15, L. 2021.
History: En. 84-1523 by Sec. 3, Ch. 435, L. 1975; R.C.M. 1947, 84-1523; amd. Sec. 18, Ch. 268, L. 2013.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-126. Repealed

15-31-126. Repealed.
Sec. 3, Ch. 15, L. 2021.
History: En. 84-1525 by Sec. 5, Ch. 435, L. 1975; R.C.M. 1947, 84-1525.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-127. Repealed

15-31-127. Repealed.
Sec. 3, Ch. 15, L. 2021.
History: En. 84-1524 by Sec. 4, Ch. 435, L. 1975; R.C.M. 1947, 84-1524.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-130. Repealed

15-31-130. Repealed.
Sec. 54, Ch. 151, L. 2017.
History: En. Sec. 12, Ch. 595, L. 2005; amd. Sec. 2, Ch. 227, L. 2011.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-131. Repealed

15-31-131. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 1, Ch. 706, L. 1989; amd. Sec. 1, Ch. 416, L. 1991; amd. Sec. 17, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994); amd. Sec. 73, Ch. 42, L. 1997; amd. Sec. 4, Ch. 540, L. 2001.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-132. Repealed

15-31-132. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 6, Ch. 606, L. 1991; amd. Sec. 20, Ch. 7, L. 2001.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-133. Repealed

15-31-133. Repealed.
Sec. 3, Ch. 399, L. 2019.
History: En. Sec. 1, Ch. 540, L. 2001.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-134. Repealed

15-31-134. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 7, Ch. 582, L. 2003.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-135. Repealed

15-31-135. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 2, Ch. 542, L. 1991; amd. Sec. 2, Ch. 140, L. 2011.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-136. Repealed

15-31-136. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 3, Ch. 542, L. 1991; amd. Sec. 3, Ch. 140, L. 2011.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-137. Repealed

15-31-137. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 2, Ch. 617, L. 1993.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-142. Reports upon merger of corporations

15-31-142. Reports upon merger of corporations.
If any corporation shall acquire, either directly, indirectly, or by merger or consolidation, the major portion of the actively employed assets of another corporation or of corporations doing any business in this state during any year or shall merge or consolidate another corporation, it shall within 30 days after such acquisition, merger, or consolidation file a report and include therein a statement showing its own and the consolidated entire net income of all such corporations for preceding calendar or fiscal years to the extent that all such income has not been used or included in measuring a corporation excise tax to this state. It shall, in any event, be liable for and pay all taxes that would have been due and payable by the corporation or corporations on or before the first day of January next succeeding had the corporation or corporations whose assets were acquired or which were merged or consolidated continued in business and as though there had been no interruption or change of the business thereof or discontinuance of the privilege of doing business. It shall also include in its own next annual return, in addition to its own entire net income, so much of the entire net income of corporations whose assets it acquired or which were merged or consolidated as shall not have been used or included in measuring a corporation excise tax to this state and shall be taxed upon such combined entire net income for the year to ensue.
History: En. Sec. 6, Ch. 166, L. 1933; re-en. Sec. 2303.2, R.C.M. 1935; R.C.M. 1947, 84-1510.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-143. Return and payment on corporate dissolution

15-31-143. Return and payment on corporate dissolution.
(1) Each corporation doing business in Montana shall pay an excise tax for the exercise of that privilege, and the amount of the excise tax must be based upon the total taxable net income of a corporation during the entire period of time that it is engaged in business in this state. No remission of that obligation for the last year in which a corporation engages in business in Montana was intended by the original enactment of this section.
(2) Each corporation that is dissolved or ceases to do business in Montana shall, upon the dissolution or cessation of business, make a return and pay the corporate income tax determined on the basis of its net income for the final period in which it did business in this state at the rate provided in 15-31-121 and 15-31-122, in addition to all other corporate income taxes for which the corporation may then be liable.
History: En. Sec. 7, Ch. 166, L. 1933; re-en. Sec. 2303.3, R.C.M. 1935; amd. Sec. 1, Ch. 67, L. 1943; amd. Sec. 1, Ch. 60, L. 1963; R.C.M. 1947, 84-1511; amd. Sec. 1, Ch. 69, L. 1999; amd. Sec. 19, Ch. 268, L. 2013.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-150. Repealed

15-31-150. Repealed.
Sec. 3, Ch. 399, L. 2019.
History: En. Sec. 1, Ch. 444, L. 1999; amd. Sec. 31, Ch. 114, L. 2003; amd. Sec. 1, Ch. 123, L. 2011; amd. Sec. 11, Ch. 55, L. 2015; amd. Sec. 2, Ch. 132, L. 2015.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-151. Credit for preservation of historic buildings

15-31-151. Credit for preservation of historic buildings.
(1) (a) There is allowed as a credit against the taxes imposed by 15-31-101, 15-31-121, and 15-31-122 a percentage of the credit allowed for qualified rehabilitation expenditures, with respect to any certified historic building located in Montana, as provided in 26 U.S.C. 47 or as that section may be renumbered or amended.
(b) The amount of the credit allowed for a tax year is 25% of the amount of the credit determined under 26 U.S.C. 47(a)(2) or as that section may be renumbered or amended.
(2) The credit allowed by this section may not be refunded if the taxpayer has a tax liability less than the amount of the credit. If the sum of credit carryovers from the credit, if any, and the amount of credit allowed by this section for the tax year exceeds the taxpayer's tax liability for the current tax year, the excess attributable to the current tax year's credit is a credit carryover to the 7 succeeding tax years. The entire amount of unused credit must be carried forward to the earliest of the succeeding years, and the oldest available unused credit must be used first.
(3) If the credit under this section is claimed by a small business corporation, as defined in 15-30-3301, or a partnership, the credit must be attributed to shareholders or partners, using the same proportion used to report the corporation's or partnership's income or loss for Montana income tax purposes.
History: En. Sec. 1, Ch. 545, L. 1997.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-152. Repealed

15-31-152. Repealed.
Sec. 3, Ch. 309, L. 2009.
History: En. Sec. 17, Ch. 537, L. 2005.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-158. Credit for providing supplemental funding to public schools -- corporate tax credit -- innovative educational program

15-31-158. (Temporary) Credit for providing supplemental funding to public schools -- corporate tax credit -- innovative educational program.
There is a credit against tax liability under this chapter for a donation made to the educational improvement account as provided in 15-30-3110. (Terminates December 31, 2029--sec. 20, Ch. 480, L. 2021.)
History: En. Sec. 20, Ch. 457, L. 2015.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-159. Qualified education corporate credit for contributions to student scholarship organization

15-31-159. (Temporary) Qualified education corporate credit for contributions to student scholarship organization.
There is a credit against tax liability under this chapter for a charitable donation made to a student scholarship organization as provided in 15-30-3111. (Terminates December 31, 2029--sec. 20, Ch. 480, L. 2021.)
History: En. Sec. 21, Ch. 457, L. 2015.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-161. Credit for contribution by corporations to qualified endowment -- recapture of credit -- deduction included as income

15-31-161. Credit for contribution by corporations to qualified endowment -- recapture of credit -- deduction included as income.
(1) A corporation is allowed a credit in an amount equal to 20% of a charitable gift against the taxes otherwise due under 15-31-101 for charitable contributions made to a qualified endowment, as defined in 15-30-2327. The maximum credit that may be claimed by a corporation for contributions made from all sources in a year under this section is $15,000. The credit allowed under this section may not exceed the corporate taxpayer's income tax liability. The credit allowed under this section may not be claimed by a corporation if the taxpayer has included the full amount of the contribution upon which the amount of the credit was computed as a deduction under 15-31-114. There is no carryback or carryforward of the credit permitted under this section, and the credit must be applied to the tax year in which the contribution is made.
(2) If during any tax year a charitable gift is recovered by the corporation, the corporation shall:
(a) include as income the amount deducted in any prior year that is attributable to the charitable gift to the extent that the deduction reduced the taxpayer's corporate income tax or alternative corporate income tax; and
(b) increase the amount of tax due under 15-31-101 by the amount of the credit allowed in the tax year in which the credit was taken.
History: En. Sec. 3, Ch. 537, L. 1997; amd. Sec. 3, Ch. 226, L. 2001; amd. Secs. 5, 6, Ch. 24, Sp. L. August 2002; amd. Sec. 3, Ch. 4, L. 2005; amd. Sec. 20, Ch. 268, L. 2013; amd. Sec. 3, Ch. 690, L. 2023.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-162. Small business corporation, partnership, and limited liability company credit for contribution to qualified endowment -- recapture of credit -- deduction included as income

15-31-162. Small business corporation, partnership, and limited liability company credit for contribution to qualified endowment -- recapture of credit -- deduction included as income.
(1) A contribution to a qualified endowment, as defined in 15-30-2327, by a small business corporation, as defined in 15-30-3301, a partnership, or a limited liability company, as defined in 35-8-102, carrying on any trade or business for which deductions would be allowed under section 162 of the Internal Revenue Code, 26 U.S.C. 162, or carrying on any rental activity qualifies for the credit provided in 15-31-161. The credit must be attributed to shareholders, partners, or members of a limited liability company in the same proportion used to report the corporation's, partnership's, or limited liability company's income or loss for Montana income tax purposes. The maximum credit that a shareholder of a small business corporation, a partner of a partnership, or a member of a limited liability company may claim in a year is $15,000. The credit allowed under this section may not exceed the taxpayer's income tax liability. There is no carryback or carryforward of the credit permitted under this section, and the credit must be applied to the tax year in which the contribution is made.
(2) (a) If during any tax year a charitable gift is recovered by the small business corporation, partnership, or limited liability company, the entity shall include as income the amount deducted in any prior year that is attributable to the charitable gift.
(b) In the tax year that a charitable gift is recovered, each shareholder, partner, or member shall increase the amount of tax due under 15-30-2103 or 15-31-101 by the amount of the credit allowed in the tax year in which the credit was taken.
History: En. Sec. 4, Ch. 537, L. 1997; amd. Sec. 4, Ch. 226, L. 2001; amd. Secs. 7, 8, Ch. 24, Sp. L. August 2002; amd. Sec. 4, Ch. 4, L. 2005; amd. Sec. 28, Ch. 503, L. 2021; amd. Sec. 4, Ch. 690, L. 2023.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-163. Capital gain exclusion from sale of mobile home park

15-31-163. Capital gain exclusion from sale of mobile home park.
(1) Any capital gains income realized from the sale or exchange of a mobile home park as defined in 70-33-103 is excluded from Montana taxable income or gross income under chapter 30 or 31.
(2) To qualify for the exclusion under this section, the sale must be made to:
(a) a tenants' association or a mobile home park residents' association;
(b) a nonprofit organization under section 501(c)(3) of the Internal Revenue Code that purchases a mobile home park on behalf of tenants' association or mobile home park residents' association;
(c) a county housing authority created under Title 7, chapter 15, part 21; or
(d) a municipal housing authority created under Title 7, chapter 15, parts 44 and 45.
(3) A corporation, an individual, a partnership, an S. corporation, or a disregarded entity qualifies for the exclusion under this section. If the exclusion allowed under this section is taken by a partnership, an S. corporation, or a disregarded entity, the exclusion must be attributed to shareholders, partners, or other owners using the same proportion used to report the partnership's, S. corporation's, or disregarded entity's income or loss for Montana income tax purposes.
(4) For the purpose of this section, "tenants' association" or "mobile home park residents' association" means a group of six or more tenants who reside in a mobile home park, have organized for the purpose of eventual purchase of the mobile home park, have established bylaws of the association, and have obtained the approval by vote of at least 51% of the residents of the mobile home park to purchase the mobile home park.
(5) Property subject to an income or corporate tax exclusion under this section is not eligible for a property tax exemption under Title 15, chapter 6, part 2, while the property is used as a mobile home park.
History: En. Sec. 1, Ch. 389, L. 2009; amd. Sec. 3, Ch. 437, L. 2021; amd. Sec. 29, Ch. 503, L. 2021.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-164. Notification of mobile home park owners

15-31-164. Notification of mobile home park owners.
(1) The department shall annually provide a list of the names and addresses of mobile home park owners to the board of housing provided for in 2-15-1814 for the purposes of this section.
(2) The board of housing shall annually and as necessary send notifications to mobile home park owners that facilitates, supports, and incentivizes mobile home park owners to utilize the benefits available pursuant to 15-31-163 and other benefits and reasons to sell a mobile home park to a tenants' association, a mobile home park residents' association, or a nonprofit organization.
(3) Costs associated with the mailing of notices required in subsection (2) may be paid for using funds available in the account provided for in 15-31-165.
(4) The provisions of 2-6-1017 do not apply to the requirements of this section.
History: En. Sec. 1, Ch. 437, L. 2021.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-165. Account for notification of mobile home park owners

15-31-165. Account for notification of mobile home park owners.
(1) There is a special revenue account within the state special revenue fund established in 17-2-102 for the notification of mobile home park owners as required in 15-31-164.
(2) There must be deposited in the account all monetary contributions, gifts, and donations for the purposes of providing the notification required in 15-31-164.
(3) Money in the account is statutorily appropriated, as provided in 17-7-502, to the board of housing established in 2-15-1814 and may only be used for those purposes provided in this section.
History: En. Sec. 2, Ch. 437, L. 2021.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-171. Repealed

15-31-171. Repealed.
Sec. 64, Ch. 503, L. 2021.
History: En. Sec. 3, Ch. 375, L. 2007; amd. Sec. 2, Ch. 388, L. 2015.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-172. Small business corporation -- deduction for donation of computer equipment to schools

15-31-172. Small business corporation -- deduction for donation of computer equipment to schools.
A small business corporation, as defined in 15-30-3301, is allowed a deduction equal to the fair market value, not to exceed 30% of the small business corporation's net income, of a computer or other sophisticated technological equipment or apparatus intended for use with the computer donated to an elementary, secondary, or accredited postsecondary school located in Montana if:
(1) the contribution is made no later than 5 years after the manufacture of the donated property is substantially completed;
(2) the property is not transferred by the donee in exchange for money, other property, or services;
(3) the electing small business corporation receives a written statement from the donee in which the donee agrees to accept the property and representing that the use and disposition of the property will be in accordance with the provisions of subsection (2); and
(4) the deduction allowed in this section is in lieu of the deduction allowed under 15-30-2131 for charitable contributions.
History: En. Sec. 2, Ch. 447, L. 1983; amd. Sec. 3, Ch. 807, L. 1991; amd. Sec. 9, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994); Sec. 15-30-126, MCA 2007; redes. 15-31-172 by Sec. 1, Ch. 147, L. 2009.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-173. Tax credit for hiring registered apprentices or veteran apprentices

15-31-173. Tax credit for hiring registered apprentices or veteran apprentices.
(1) There is a tax credit against the taxes otherwise due under 15-31-121 or 15-31-122 that is allowable in the amount established pursuant to 39-6-109 when a taxpayer employs a registered apprentice or registered veteran apprentice who works in Montana. The credit is administered as provided in 15-30-2357, 39-6-109, and this section.
(2) If the credit allowed under this section is claimed by a small business corporation as defined in 15-30-3301, a pass-through entity, or a partnership, the credit must be attributed to shareholders, owners, or partners using the same proportion as used to report the entity's income or loss.
History: En. Sec. 3, Ch. 380, L. 2017.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-174. Corporate income tax credit for trades education and training

15-31-174. (Temporary) Corporate income tax credit for trades education and training.
(1) There is a tax credit against the taxes otherwise imposed by 15-31-101, 15-31-121, and 15-31-122 that is allowable in the amount established pursuant to 15-30-2359 for qualified education and training expenses incurred by an employer for the benefit of an employee. The credit is administered as provided in 15-30-2359 and this section.
(2) If the credit allowed under 15-30-2359 and this section is claimed by a small business corporation as defined in 15-30-3301, a pass-through entity, or a partnership, the credit must be attributed to shareholders, owners, or partners using the same proportion as used to report the entity's income or loss. (Terminates December 31, 2028--sec. 2, Ch. 576, L. 2023.)
History: En. Sec. 2, Ch. 248, L. 2021.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 1. Corporate Income Tax Rate and Return › 15-31-175. Grow Montana jobs -- annual job growth incentive tax credit

15-31-175. (Temporary) Grow Montana jobs -- annual job growth incentive tax credit.
(1) There is an annual job growth incentive tax credit against the taxes otherwise due under 15-31-121 or 15-31-122 that is allowable in the amount established pursuant to 15-30-2361 when a taxpayer hires qualifying new employees in the state. The credit is administered as provided in 15-30-2361, 39-11-404, and this section.
(2) If the credit allowed under this section is claimed by a small business corporation as defined in 15-30-3301 or a partnership, the credit must be attributed to shareholders or partners using the same proportion to report the corporation's or partnership's income or loss for Montana income tax purposes. (Terminates December 31, 2028--sec. 4, Ch. 391, L. 2023.)
History: En. Secs. 3, 6, 9, 12, 15, Ch. 550, L. 2021.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-201. Renumbered 15-30-1101

15-31-201. Renumbered 15-30-1101.
Sec. 16(2), Ch. 143, L. 2001.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-202. Repealed

15-31-202. Repealed.
Sec. 17, Ch. 143, L. 2001.
History: En. Sec. 2, Ch. 122, L. 1959; amd. Sec. 53, Ch. 516, L. 1973; amd. Sec. 1, Ch. 34, L. 1977; amd. Sec. 2, Ch. 405, L. 1977; R.C.M. 1947, 84-1501.2; amd. Sec. 22, Ch. 581, L. 1979; amd. Sec. 2, Ch. 667, L. 1983; amd. Sec. 7, Ch. 807, L. 1991; amd. Sec. 15, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994); amd. Sec. 1, Ch. 65, L. 1997.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-203. Renumbered 15-30-1121

15-31-203. Renumbered 15-30-1121.
Sec. 16(2), Ch. 143, L. 2001.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-204. Repealed

15-31-204. Repealed.
Sec. 3, Ch. 65, L. 1997.
History: En. Sec. 2, Ch. 11, Ex. L. 1969; R.C.M. 1947, 84-1501.5; amd. Sec. 8, Ch. 807, L. 1991; amd. Sec. 16, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994).
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-205. Repealed

15-31-205. Repealed.
Sec. 5, Ch. 667, L. 1983.
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(c).
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-206. Repealed

15-31-206. Repealed.
Sec. 5, Ch. 667, L. 1983.
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(d).
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-207. Repealed

15-31-207. Repealed.
Sec. 5, Ch. 667, L. 1983.
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(e).
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-208. Repealed

15-31-208. Repealed.
Sec. 10, Ch. 807, L. 1991.
History: En. Sec. 3, Ch. 667, L. 1983; amd. Sec. 2, Ch. 534, L. 1989.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 2. Small Business Corporations (Renumbered and Repealed) › 15-31-209. Repealed

15-31-209. Repealed.
Sec. 17, Ch. 143, L. 2001.
History: En. Sec. 4, Ch. 667, L. 1983.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 3. Allocation and Apportionment of Income › 15-31-301. Corporations subject to allocation and apportionment

15-31-301. Corporations subject to allocation and apportionment.
(1) Any corporation having income from business activity which is taxable both within and without this state shall allocate and apportion its net income as provided in this part.
(2) A corporation engaged in a unitary business within and without Montana must apportion its apportionable income as provided for under 15-31-305. A business is unitary when the operation of the business within the state is dependent upon or contributory to the operation of the business outside the state or if the units of the business within and without the state are closely allied and not capable of separate maintenance as independent businesses.
(3) A corporation not engaged in a unitary business must allocate its apportionable income by means of separate accounting methods, provided its books and records are so kept that the income and expenses attributable to business operations within the state can be properly segregated from total income and expense. If the corporation's books and records do not permit such proper segregation, its apportionable income must be apportioned according to the provisions of 15-31-305.
History: En. Sec. 3, Ch. 166, L. 1933; re-en. Sec. 2297.1, R.C.M. 1935; amd. Sec. 1, Ch. 219, L. 1957; amd. Sec. 1, Ch. 143, L. 1969; amd. Sec. 55, Ch. 516, L. 1973; amd. Sec. 2, Ch. 5, L. 1974; R.C.M. 1947, 84-1503(1); amd. Sec. 3, Ch. 268, L. 2017.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 3. Allocation and Apportionment of Income › 15-31-302. Definitions

15-31-302. Definitions.
(1) "Apportionable income" means:
(a) all income that is apportionable under the constitution of the United States and is not allocated under the laws of this state, including:
(i) income arising from transactions and activity in the regular course of the taxpayer's trade or business; and
(ii) income arising from tangible and intangible property if the acquisition, management, employment, development, or disposition of the property is or was related to the operation of the taxpayer's trade or business; and
(b) any income that would be allocable to this state under the constitution of the United States but that is apportioned rather than allocated pursuant to the laws of this state.
(2) "Commercial domicile" means the principal place from which the trade or business of the taxpayer is directed or managed.
(3) "Compensation" means wages, salaries, commissions, and any other form of remuneration paid to employees for personal services.
(4) "Nonapportionable income" means all income other than apportionable income.
(5) "Receipts" means all gross receipts of the taxpayer not allocated under 15-31-304.
(6) "State" means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof.
History: En. Sec. 3, Ch. 166, L. 1933; re-en. Sec. 2297.1, R.C.M. 1935; amd. Sec. 1, Ch. 219, L. 1957; amd. Sec. 1, Ch. 143, L. 1969; amd. Sec. 55, Ch. 516, L. 1973; amd. Sec. 2, Ch. 5, L. 1974; R.C.M. 1947, 84-1503(2); amd. Sec. 4, Ch. 268, L. 2017.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 3. Allocation and Apportionment of Income › 15-31-303. When taxable in another state

15-31-303. When taxable in another state.
For the purposes of allocation and apportionment of income, a corporation is taxable in another state as provided in Article IV, subsection (3), of 15-1-601.
History: En. Sec. 3, Ch. 166, L. 1933; re-en. Sec. 2297.1, R.C.M. 1935; amd. Sec. 1, Ch. 219, L. 1957; amd. Sec. 1, Ch. 143, L. 1969; amd. Sec. 55, Ch. 516, L. 1973; amd. Sec. 2, Ch. 5, L. 1974; R.C.M. 1947, 84-1503(3); amd. Sec. 10, Ch. 20, L. 1985; amd. Sec. 5, Ch. 268, L. 2017.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 3. Allocation and Apportionment of Income › 15-31-304. Allocation of nonapportionable income

15-31-304. Allocation of nonapportionable income.
Rents and royalties from real or tangible personal property, capital gains, interest, dividends, or patent or copyright royalties, to the extent that they constitute nonapportionable income, must be allocated as provided in Article IV, subsections (4) through (8), of 15-1-601.
History: En. Sec. 3, Ch. 166, L. 1933; re-en. Sec. 2297.1, R.C.M. 1935; amd. Sec. 1, Ch. 219, L. 1957; amd. Sec. 1, Ch. 143, L. 1969; amd. Sec. 55, Ch. 516, L. 1973; amd. Sec. 2, Ch. 5, L. 1974; R.C.M. 1947, 84-1503(4) thru (8); amd. Sec. 6, Ch. 268, L. 2017.
2023 Montana Code Annotated › Title 15. Taxation › Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax › Part 3. Allocation and Apportionment of Income › 15-31-305. Apportionment of apportionable income

15-31-305. Apportionment of apportionable income.
All apportionable income must be apportioned to this state as provided in Article IV, subsection (9), of 15-1-601.
History: En. Sec. 3, Ch. 166, L. 1933; re-en. Sec. 2297.1, R.C.M. 1935; amd. Sec. 1, Ch. 219, L. 1957; amd. Sec. 1, Ch. 143, L. 1969; amd. Sec. 55, Ch. 516, L. 1973; amd. Sec. 2, Ch. 5, L. 1974; R.C.M. 1947, 84-1503(9); amd. Sec. 7, Ch. 268, L. 2017.