Montana § 15-53-140 Credit For Taxes Paid On Worthless Account -- Taxes Paid If Account Collected

Montana Statutes

§ 15-53-140 — Credit For Taxes Paid On Worthless Account -- Taxes Paid If Account Collected

Montana·Title 15 TAXATION·Ch. 53 RETAIL TELECOMMUNICATIONS EXCISE TAX·Part 1 General Provisions

15-53-140 . Credit for taxes paid on worthless account -- taxes paid if account collected.

(1)The retail telecommunications excise taxes paid on an accrual basis by a telecommunications services provider filing a return under 15-53-139 on sales found to be worthless and actually deducted by the person as bad debt for federal income tax purposes may be credited on a subsequent payment of the tax.

(2)If the accounts are subsequently collected, the retail telecommunications excise tax must be paid on the amount collected.

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15-53-140 . Credit for taxes paid on worthless account -- taxes paid if account collected. (1) The retail telecommunications excise taxes paid on an accrual basis by a telecommunications services provider filing a return under 15-53-139 on sales found to be worthless and actually deducted by the person as bad debt for federal income tax purposes may be credited on a subsequent payment of the tax.
(2) If the accounts are subsequently collected, the retail telecommunications excise tax must be paid on the amount collected.

Montana § 15-53-140 (Credit For Taxes Paid On Worthless Account -- Taxes Paid If Account Collected) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.