Montana § 15-38-111 Credit For Overpayment -- Interest On Overpayment

Montana Statutes

§ 15-38-111 — Credit For Overpayment -- Interest On Overpayment

Montana § 15-38-111

Title 15TAXATION

Ch. 38RESOURCE INDEMNITY TRUST AND GROUND WATER ASSESSMENT

Part 1General Provisions

This text of Montana § 15-38-111 (Credit For Overpayment -- Interest On Overpayment) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 15-38-111 (2026).

Text

15-38-111 . Credit for overpayment -- interest on overpayment.

(1)If the department determines that the amount of tax, penalty, or interest due for any year is less than the amount paid, the amount of the overpayment must be credited against any tax, penalty, or interest then due from the taxpayer and the balance refunded to the taxpayer or its successor through reorganization, merger, or consolidation or to its shareholders upon dissolution.

(2)Except as provided in subsection (3), interest must be allowed on overpayments at the same rate as is charged on deficiency assessments provided in 15-1-216 due from the due date of the return or from the date of overpayment, whichever date is later, to the date the department approves refunding or crediting of the overpayment.

(3)(a) Interest m

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15-38-111 . Credit for overpayment -- interest on overpayment. (1) If the department determines that the amount of tax, penalty, or interest due for any year is less than the amount paid, the amount of the overpayment must be credited against any tax, penalty, or interest then due from the taxpayer and the balance refunded to the taxpayer or its successor through reorganization, merger, or consolidation or to its shareholders upon dissolution.
(2) Except as provided in subsection (3), interest must be allowed on overpayments at the same rate as is charged on deficiency assessments provided in 15-1-216 due from the due date of the return or from the date of overpayment, whichever date is later, to the date the department approves refunding or crediting of the overpayment.
(3) (a) Interest may not accrue during any period that the processing of a claim for refund is delayed more than 30 days by reason of failure of the taxpayer to furnish information requested by the department for the purpose of verifying the amount of the overpayment.
(b) Interest is not allowed:
(i) if the overpayment is refunded within 6 months from the date the return is due or from the date the return is filed, whichever is later; or
(ii) if the amount of interest is less than $1.
(c) A payment not made incident to a bona fide and orderly discharge of an actual tax liability or one reasonably assumed to be imposed by this chapter is not considered an overpayment with respect to which interest is allowable.