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Montana Code Annotated — Title 15 (Taxation)

Mont. Code Ann. § 15-30-3406

Effect Of Election By Audited Partnership Or Tiered Partner And Payment Of Amount Due

Official textleg.mt.gov

15-30-3406 . Effect of election by audited partnership or tiered partner and payment of amount due. (1) The election made pursuant to 15-30-3404 is irrevocable, unless the department, in its discretion, determines otherwise.

(2) If properly reported and paid by the audited partnership or tiered partner, the amount determined in 15-30-3404 (1)(b), will be treated as paid in lieu of taxes owed by its direct and indirect partners, to the extent applicable, on the same final federal adjustment. The direct partners or indirect partners may not take any deduction or credit for this amount or claim a refund of the amount in this state. Nothing in this section shall preclude a direct resident partner from claiming:

# (a)

a credit against taxes paid to this state pursuant to 15-30-3313 ; or

# (b)

any amounts paid by the audited partnership or tiered partner on the resident partner's behalf to another state or local tax jurisdiction in accordance with the provisions of 15-30-2302 .

(3) Nothing in this section prevents the department from assessing direct partners or indirect partners for taxes owed, using the best information available, in the event that a partnership or tiered partner fails to timely make any report or payment required by this section for any reason.

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In this chapter (40 sections)
  1. 15-30-3005 · Montana Farm And Ranch Risk Management Account --…
  2. 15-30-3101 · Purpose
  3. 15-30-3102 · Definitions
  4. 15-30-3103 · Requirements For Student Scholarship Organizations
  5. 15-30-3104 · Tuition Payment Limitation
  6. 15-30-3105 · Reporting Requirements For Student Scholarship…
  7. 15-30-3106 · Student Scholarship Organizations -- Listing On Website
  8. 15-30-3107 · Through 15-30-3109 Reserved
  9. 15-30-3110 · Credit For Providing Supplemental Funding To Public…
  10. 15-30-3111 · Qualified Education Tax Credit For Donations To Student…
  11. 15-30-3112 · Report To Revenue Interim Committee -- Student Scholarship…
  12. 15-30-3113 · Review Determination -- Termination -- Confidentiality
  13. 15-30-3114 · Rulemaking
  14. 15-30-3301 · Definition Of Small Business Corporation
  15. 15-30-3302 · Income Or License Tax Involving Pass-Through Entities --…
  16. 15-30-3303 · Through 15-30-3310 Reserved
  17. 15-30-3311 · Taxation Of Partners, Shareholders, Managers, And Members
  18. 15-30-3312 · Composite Returns And Tax
  19. 15-30-3313 · Consent Or Withholding -- Rulemaking
  20. 15-30-3314 · Review Of Pass-Through Entity Taxation By Department
  21. 15-30-3315 · Electronic Partnership Return Required -- Waiver --…
  22. 15-30-3316 · Through 15-30-3320 Reserved
  23. 15-30-3321 · Small Business Option Unavailable On Dissolution --…
  24. 15-30-3322 · Through 15-30-3324 Reserved
  25. 15-30-3325 · Definitions
  26. 15-30-3326 · Pass-Through Entity Tax
  27. 15-30-3327 · Making Pass-Through Entity Tax Election
  28. 15-30-3328 · Pass-Through Entity Tax -- Refundable Credit -- Credit For…
  29. 15-30-3401 · Definitions
  30. 15-30-3402 · State Partnership Representative
  31. 15-30-3403 · Reporting And Payment Requirements For Partnerships…
  32. 15-30-3404 · Election -- Partnership Pays -- Rulemaking
  33. 15-30-3405 · Modified Reporting And Payment Method
  34. 15-30-3406 · Effect Of Election By Audited Partnership Or Tiered…
  35. 15-30-3407 · De Minimis Exception -- Rulemaking
  36. 15-30-3408 · Estimated Tax Payments During Course Of Federal Audit
  37. 15-30-3701 · Short Title
  38. 15-30-3702 · Definitions
  39. 15-30-3703 · Taxation Of Qualifying Net Capital Gains From Sale Of…
  40. 15-30-3704 · Tax On Qualifying Net Capital Gains
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