§ 15-30-3327 — Making Pass-Through Entity Tax Election

15-30-3327 . Making pass-through entity tax election. (1) The election must be made annually no later than the due date, including extensions, of the pass-through entity's tax return as prescribed by 15-30-3302 . The election for a tax year is irrevocable for the year it is made.
(2) The pass-through entity must designate a Montana pass-through entity representative who is authorized to make the election to subject the pass-through entity to the tax provided for in 15-30-3325 through 15-30-3328 .
(a) The Montana pass-through entity representative acts on behalf of the pass-through entity for the applicable tax year.
(b) With respect to an action required or permitted to be taken by a pass-through entity under 15-30-3325 through 15-30-3328 and a proceeding under 15-1-211 with respect to the action, the Montana pass-through entity representative for the tax year has the sole authority to act on behalf of the pass-through entity, and the pass-through entity's direct owners and indirect owners are bound by those actions.
(c) The department may establish reasonable qualifications and procedures for designating a person to be the Montana pass-through entity representative.
(3) Nothing in this section prevents a pass-through entity that does not have business activity in the state during the tax year but that does have resident owners from electing to pay the entity tax.

Legislative History

En. Sec. 3, Ch. 702, L. 2023.