15-30-2101. (Temporary) Definitions. For the purpose of this chapter, unless otherwise required by the context, the following definitions apply: (1) ”Base year structure” means the following elements of the income tax structure: (a) the tax brackets established in 15-30-2103, but unadjusted by 15-30-2103(2), in effect on June 30 of the taxable year; (b) the exemptions contained in 15-30-2114, but […]
15-30-2102. (Temporary) Construction of net income. For the purpose of raising revenue, the net income required to be shown on returns under this chapter and taken as the basis for determining the tax hereunder shall not be classified or held or construed to be property. All income except what has been expressly exempted under the provisions […]
15-30-2103. (Temporary) Rate of tax. (1) Except as provided in 15-30-3704 there must be levied, collected, and paid for each tax year upon the taxable income of each taxpayer subject to this tax, after making allowance for exemptions and deductions as provided in this chapter, a tax on the brackets of taxable income as follows: (a) on […]
15-30-2104. (Temporary) Tax on nonresident. (1) (a) A tax is imposed upon each nonresident equal to the tax computed under 15-30-2103 as if the nonresident were a resident during the entire tax year, multiplied by the ratio of Montana source income to total income from all sources. (b) This subsection (1) does not permit any items of […]
15-30-2105. Tax on lump-sum distributions. (1) A separate tax is imposed on that portion of a lump-sum distribution for which a deduction was allowed by section 62(a)(8) of the Internal Revenue Code (now repealed). (2) The tax is 10% of the amount of tax determined under section 402(d) of the Internal Revenue Code that was in effect […]
15-30-2106 through 15-30-2109 reserved.
15-30-2110. (Temporary) Adjusted gross income. (1) Subject to subsection (15), adjusted gross income is the taxpayer’s federal adjusted gross income as defined in section 62 of the Internal Revenue Code, 26 U.S.C. 62, and in addition includes the following: (a) (i) interest received on obligations of another state or territory or county, municipality, district, or other political subdivision […]
15-30-2111. (Temporary) Nonresident and temporary resident taxpayers — adjusted gross income. In the case of a taxpayer other than a resident of this state, adjusted gross income includes the entire amount of adjusted gross income as provided for in 15-30-2110. (Repealed effective January 1, 2024–secs. 65, 70(1), Ch. 503, L. 2021.) History: En. Sec. 7, Ch. 181, […]
15-30-2112. Change from nonresident to resident or vice versa. If a taxpayer changes status from that of resident to that of nonresident or from that of nonresident to that of resident during the tax year, the taxpayer shall file a return. If a resident obtains employment outside the state, income from the employment is taxable in […]
15-30-2113. (Temporary) Determination of marital status. For purposes of this chapter: (1) the determination of whether an individual is married must be made as of the close of the individual’s tax year, except that if the individual’s spouse dies during the individual’s tax year, the determination must be made as of the time of death; and (2) an […]
15-30-2114. (Temporary) Exemptions — inflation adjustment. (1) Subject to subsection (6), an individual is allowed as deductions in computing taxable income the exemptions provided by subsections (2) through (5). (2) (a) An exemption of $2,380 is allowed for all taxpayers. (b) An additional exemption of $2,380 is allowed for the spouse of the taxpayer if a separate return is […]
15-30-2115. (Temporary) General definition of dependent. (1) For purposes of 15-30-2114, the term “dependent” means any of the following individuals over half of whose support, for the calendar year in which the tax year of the taxpayer begins, was received from the taxpayer: (a) a son or daughter of the taxpayer or a descendant of either; (b) a […]
15-30-2116. (Temporary) Additional exemption for dependent child with disability — physician’s verification. (1) In lieu of the exemption in 15-30-2114(5), an exemption for twice the amount allowed for dependents is allowed for each dependent child with a disability. (2) In order to be eligible for the exemption, a dependent child with a disability must, for the taxable […]
15-30-2117. (Temporary) Military salary, veterans’ bonus, or death benefit — exemptions. (1) All payments made under the World War I bonus law, the Korean bonus law, and the veterans’ bonus law are exempt from taxation under this chapter. Any income tax that has been or may be paid on income received from the World War I […]
15-30-2118. Taxable liability on termination of independent liability fund. If an independent liability fund established pursuant to Title 33, chapter 27, is terminated as provided in 33-27-119, the income from the principal distributed pursuant to 33-27-119(3) is taxable to that person or persons under the applicable provisions of this chapter. History: En. Sec. 18, Ch. 564, L. […]
15-30-2119. (Temporary) Net operating loss — computation. A Montana net operating loss must be determined in accordance with section 172 of the Internal Revenue Code of 1986 (26 U.S.C. 172) or as that section may be labeled or amended except that the net operating loss determined under section 172(c) of the Internal Revenue Code (26 U.S.C. […]
15-30-2120. (Effective January 1, 2024) Adjustments to federal taxable income to determine Montana taxable income. (1) The items in subsection (2) are added to and the items in subsection (3) are subtracted from federal taxable income to determine Montana taxable income. (2) The following are added to federal taxable income: (a) to the extent that it is not […]
15-30-2121 through 15-30-2130 reserved.
15-30-2131. (Temporary) Deductions allowed in computing net income. (1) In computing net income, there are allowed as deductions: (a) the items referred to in sections 161, including the contributions referred to in 33-15-201(5)(b), and 211 of the Internal Revenue Code, 26 U.S.C. 161 and 211, subject to the following exceptions, which are not deductible: (i) items provided for […]
15-30-2132. (Temporary) Standard deduction. (1) A standard deduction equal to 20% of adjusted gross income is allowed if elected by the taxpayer on a return. The standard deduction is in lieu of all deductions allowed under 15-30-2131. The minimum standard deduction is $1,980, as adjusted under the provisions of subsection (2), or 20% of adjusted gross […]
