Rule detail : 165407

MT LEG Corporate Income Tax Change

MT LEG passed bill SB 124 to revise corporate income tax apportionment.
Adds and deletes various definitions, sets new method for apportioning multistate income between the various states involved, repeals old provisions.
Amended Provisions
Amends MT LEG 15-1-601, MT LEG 15-30-2104, MT LEG 15-30-3313, MT LEG 15-31-122, MT LEG 15-31-310, MT LEG 15-31-311, and MT LEG 15-31-312.
Also amends MT LEG 15-31-403, and MT LEG 15-31-406; repeals MT LEG 15-31-306, MT LEG 15-31-307, MT LEG 15-31-308, and MT LEG 15-31-309.
Legislative History
On Jan. 4, 2023, bill introduced in Senate; on Mar. 7, 2023, bill passed Senate.
On Feb. 8, 2023, bill introduced in House; on Ma. 1, 2023, bill passed House.
On Mar. 3, 2023, bill sent to enrolling, awaiting governor approval or veto.
Effectiveness
Upon approval, bill effective Jan. 1, 2025; applies to tax years after Dec. 31, 2024.
Mar. 13, 2023 Governor Approval
On Mar. 13, 2023, MT LEG bill SB 124 was signed into State law by the governor.

Regulators	MT LEG
Entity Types	Corp
Reference	PR, Bill SB124, 3/13/2023; Bill, SB124, 3/3/2023; Citation: MT LEG 15-1-601, 15-30-2104, 15-30-3313, 15-31-122, 15-31-306, 15-31-307, 15-31-308, 15-31-309, 15-31-310, 15-31-311, 15-31-312, 15-31-403, 15-31-406;
Functions	Accounting; Audit; Compliance; Financial; Legal; Reporting; Tax
Countries	United States of America
Category
State
Products	Corporate
Regions	Am
Rule Type	Final
Rule Date	3/3/2023
Effective Date	1/1/2025
Rule Id	165407
Linked to	N/A
Reg. Last Update	3/13/2023
Report Section	US Investment