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Montana Code Annotated — Title 15 (Taxation)

Mont. Code Ann. § 15-31-325

Treatment Of Dividends

Official textleg.mt.gov

15-31-325 . Treatment of dividends. For purposes of 15-31-321 through 15-31-326 , dividends must be treated as follows:

# (1)

Dividends received from corporations incorporated outside the United States, to the extent taxable, are considered income subject to apportionment.

# (2)

The after-tax net income of United States corporations excluded from eligibility as affiliated corporations under 15-31-322 and possession corporations described in sections 931 through 934 and 936 of the Internal Revenue Code are considered dividends received from corporations incorporated outside the United States.

# (3)

Amounts included in income under sections 951 through 962 and 964 of the Internal Revenue Code are considered dividends from corporations incorporated outside the United States.

# (4)

Eighty percent of all dividends apportionable under this section must be excluded from income subject to apportionment.

# (5)

"Deemed" distributions, as set forth in section 78 of the Internal Revenue Code, and corresponding amounts with respect to dividends considered received under subsection (2) of this section must be excluded from the income of the water's-edge combined group.

# (6)

The dividends apportionable under this section are in lieu of any expenses attributable to dividend income.

# (7)

A dividend from a corporation required to be combined in the water's-edge combined group must be eliminated from the calculation of apportionable income.

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In this chapter (40 sections)
  1. 15-31-208 · Repealed
  2. 15-31-209 · Repealed
  3. 15-31-301 · Corporations Subject To Allocation And Apportionment
  4. 15-31-302 · Definitions
  5. 15-31-303 · When Taxable In Another State
  6. 15-31-304 · Allocation Of Nonapportionable Income
  7. 15-31-305 · Apportionment Of Apportionable Income
  8. 15-31-306 · Repealed
  9. 15-31-307 · Repealed
  10. 15-31-308 · Repealed
  11. 15-31-309 · Repealed
  12. 15-31-310 · Definition Of Receipts Factor
  13. 15-31-311 · Receipts Factor For Receipts In This State
  14. 15-31-312 · Apportionment Formula -- Unitary Business Provisions
  15. 15-31-313 · Rules
  16. 15-31-314 · Through 15-31-320 Reserved
  17. 15-31-321 · Definitions
  18. 15-31-322 · Water's-Edge Election
  19. 15-31-323 · Apportionment Factors
  20. 15-31-324 · Water's-Edge Election Period -- Consent -- Change Of…
  21. 15-31-325 · Treatment Of Dividends
  22. 15-31-326 · Domestic Disclosure Spreadsheet
  23. 15-31-401 · Application Of Corporate Income Tax And Alternative…
  24. 15-31-402 · Short Title -- Administration Of Part
  25. 15-31-403 · Rate Of Tax Imposed -- Income From Sources Within State…
  26. 15-31-404 · Offset For Corporate Income Taxes -- Alternative Corporate…
  27. 15-31-405 · Information Return -- Period For Assessment Of Tax
  28. 15-31-406 · Corporate Income Tax Sections Incorporated By Reference
  29. 15-31-407 · Employment Of Personnel -- Rules
  30. 15-31-408 · Repealed
  31. 15-31-501 · Department Rules -- Conformance With Internal Revenue Code
  32. 15-31-502 · Assessment And Payment Of Tax -- Estimated Tax Payment --…
  33. 15-31-503 · Deficiency Assessment -- Notice -- Penalty And Interest
  34. 15-31-504 · Estimated Tax On Failure To File
  35. 15-31-505 · Subpoenas -- Investigation Of Income, And Shifting
  36. 15-31-506 · Copy Of Federal Return Required -- Report Of Amended…
  37. 15-31-507 · Repealed
  38. 15-31-508 · Repealed
  39. 15-31-509 · Periods Of Limitation
  40. 15-31-510 · Estimated Payments -- Tax Returns -- Penalty And Interest
Full table of contents →