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Montana Code Annotated — Title 15 (Taxation)

Mont. Code Ann. § 15-31-117

Tax Deductibility

Official textleg.mt.gov

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 the applicable provisions of this chapter.

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In this chapter (40 sections)
  1. 15-31-101 · Organizations Subject To Tax -- Incorporation Of Terms That…
  2. 15-31-102 · Organizations Exempt From Tax -- Unrelated Business Income…
  3. 15-31-103 · Research And Development Firms Exempt From Taxation --…
  4. 15-31-104 · Through 15-31-109 Reserved
  5. 15-31-110 · Electronic Corporate Income Tax Return Required -- Waiver…
  6. 15-31-111 · Return To Be Filed -- Penalty And Interest
  7. 15-31-112 · Taxable Period
  8. 15-31-113 · Gross Income And Net Income
  9. 15-31-114 · Deductions Allowed In Computing Income
  10. 15-31-115 · Reaffirmation Of Bond Income Inclusion In Definition Of Net…
  11. 15-31-116 · Repealed
  12. 15-31-117 · Tax Deductibility
  13. 15-31-118 · Taxable Liability On Termination Of Independent Liability…
  14. 15-31-119 · Net Operating Losses -- Carryovers And Carrybacks -- Limit
  15. 15-31-120 · Reserved
  16. 15-31-121 · Rate Of Tax -- Minimum Tax -- Distribution Of Revenue
  17. 15-31-122 · Alternative Gross Sales Tax
  18. 15-31-123 · Repealed
  19. 15-31-124 · Repealed
  20. 15-31-125 · Repealed
  21. 15-31-126 · Repealed
  22. 15-31-127 · Repealed
  23. 15-31-128 · And 15-31-129 Reserved
  24. 15-31-130 · Repealed
  25. 15-31-131 · Repealed
  26. 15-31-132 · Repealed
  27. 15-31-133 · Repealed
  28. 15-31-134 · Repealed
  29. 15-31-135 · Repealed
  30. 15-31-136 · Repealed
  31. 15-31-137 · Repealed
  32. 15-31-138 · Through 15-31-140 Reserved
  33. 15-31-141 · Consolidated Returns -- Computation And Procedure --…
  34. 15-31-142 · Reports Upon Merger Of Corporations
  35. 15-31-143 · Return And Payment On Corporate Dissolution
  36. 15-31-144 · Through 15-31-149 Reserved
  37. 15-31-150 · Repealed
  38. 15-31-151 · Credit For Preservation Of Historic Buildings
  39. 15-31-152 · Repealed
  40. 15-31-153 · Through 15-31-157 Reserved
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