Montana Code 15-31-121. Rate of tax — minimum tax — distribution of revenue
Current as of: 2023 | Check for updates
|
Other versions
15-31-121. Rate of tax — minimum tax — distribution of revenue. (1) Except as provided in subsection (2), the percentage of net income to be paid under 15-31-101 is 6 3/4% of all net income for the tax period.
Terms Used In Montana Code 15-31-121
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2)For a taxpayer making a water’s-edge election, the percentage of net income to be paid under 15-31-101 is 7% of all taxable net income for the tax period.
(3)Each corporation subject to taxation under this part shall pay a minimum tax of not less than $50.