Title 15, Title 15

(1) Prior to claiming the media production tax credit provided for in 15-31-1007 or the tax credit for postproduction wages provided for in 15-31-1009, a production company or postproduction company must be approved to claim the credit by the department of commerce and shall subm…

(1) A production company with a base investment of more than $350,000 that claims the credit provided for in 15-31-1007 shall submit a production expenditure verification report to the department of revenue as provided in this section. The report must be submitted with the submis…

(1) Subject to 15-31-1010 and through the tax year ending December 31, 2045, a production company and its affiliates are allowed a credit against the taxes imposed by chapter 30 and this chapter for investments in a state-certified production approved by the department of commerc…

(1) A tax credit for a state-certified production approved as provided in 15-31-1004 and 15-31-1005 and calculated pursuant to 15-31-1007 but not claimed by the production company may be transferred in whole or in part by the production company to another Montana taxpayer as prov…

(1) Subject to 15-31-1010 and through the tax year ending December 31, 2045, a postproduction company that has incurred qualified postproduction wages in the tax year is allowed a credit against the taxes imposed by chapter 30 and this chapter if the taxpayer applies to the depar…

(1) The term "corporation" includes an association, joint-stock company, common-law trust or business trust that does business in an organized capacity, all other corporations whether created, organized, or existing under and pursuant to the laws, agreements, or declarations of t…

(1) (a) The department of commerce may grant to applicants pursuant to 15-31-1004 the authority to apply for the tax credits provided for in 15-31-1007 and 15-31-1009. (b) The authorization by the department of commerce to apply for a credit does not guarantee the credit. A taxpa…

(1) The department of commerce shall provide a written report about the economic impact of the tax credits provided for in 15-31-1007 through 15-31-1009 to the revenue interim committee provided for in 5-5-227. The report must be provided no less than 6 months before the start of…

(1) The department of commerce and the department of revenue shall adopt rules necessary to implement and administer this part. The rules must include procedures for: (a) determining production expenditures allowed under 15-31-1007 and postproduction wages allowed under 15-31-100…

(1) There is an account in the state special revenue fund provided for in 17-2-102 known as the film industry workforce training account. (2) The fee collected under 15-31-1010(2)(c) must be deposited in the account. (3) The department of labor and industry shall use money in the…

(1) Except as provided in subsection (3), there may not be taxed under this title any income received by any: (a) labor, agricultural, or horticultural organization; (b) fraternal beneficiary, society, order, or association operating under the lodge system or for the exclusive be…

(1) A research and development firm organized to engage in business in the state of Montana for the first time is not subject to any of the taxes imposed by this chapter on net income earned from research and development activities during its first 5 taxable years of activity in …

(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…

(1) A corporation subject to the corporate income tax imposed under this chapter shall for each tax period file an accurate return of its net income for the tax period in the manner and form prescribed by the department. The return must contain all of the information that is appr…

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 noti…

(Temporary) 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 …

(1) In computing the net income, the following deductions are allowed from the gross income received by the corporation within the year from all sources: (a) all the ordinary and necessary expenses paid or incurred during the taxable year in the maintenance and operation of its b…

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.

(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 a…

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.

(1) The net operating loss deduction is the aggregate of net operating loss carryovers to the tax period plus the net operating loss carrybacks to the tax period. (2) The term "net operating loss" means the excess of the deductions allowed by this section over the gross income, w…

(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 in…

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 …

(1) Corporations that are affiliated may not file a consolidated return unless at least 80% of all classes of stock of each corporation involved is owned directly or indirectly by one or more members of the affiliated group. (2) Corporations may not file a consolidated return unl…

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 corpora…

(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 sta…

(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 a…

(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. (Ter…

(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 …

(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 c…

(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 s…

(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 tenan…

(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 pa…

(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 purpo…

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 com…

(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 administere…

(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 …

(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 as defined in 39-11-404 in the state. The credit i…

(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 apporti…

(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 busi…

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.

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.

All apportionable income must be apportioned to this state as provided in Article IV, subsection (9), of 15-1-601.

The receipts factor is provided for in Article IV, subsection (10), of 15-1-601.

(1) Receipts from the sale of tangible personal property are in this state as provided for in Article IV, subsection (11), of 15-1-601. (2) Receipts, other than receipts provided for in subsection (1), are in this state as provided for in Article IV, subsection (12), of 15-1-601.

(1) If the allocation and apportionment provisions of this part do not fairly represent the extent of the taxpayer's business activity in this state, the taxpayer may petition for or the tax administrator may require, in respect to all or any part of the taxpayer's business activ…