Montana Statutes
§ 15-31-117 — Tax Deductibility
Montana·Title 15 TAXATION·Ch. 31 CORPORATE INCOME TAX OR ALTERNATIVE CORPORATE INCOME TAX·Part 1 Corporate Income Tax Rate and Return
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 t
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Legislative History
En. Secs. 10, 11, 15, Ch. 564, L. 1987; amd. Sec. 17, Ch. 268, L. 2013.
Nearby Sections
15
§ 15-31-1001
Short Title§ 15-31-1002
Purpose§ 15-31-1003
Definitions§ 15-31-1004
Application For State Certification§ 15-31-1005
Submission Of Costs -- Fee§ 15-31-1006
Production Expenditure Verification Report§ 15-31-1007
Tax Credit For Media Production§ 15-31-1009
Tax Credit For Postproduction Wages§ 15-31-1010
Limitation Of Tax Credits -- Allocation -- Fee§ 15-31-1011
Report To Legislature§ 15-31-1012
Rulemaking