(1) Any corporation defined as a qualified REIT subsidiary in IRC 856(i)(2) that has Montana source income and the assets, liabilities, and items of income, deduction, and credit of which are included in the federal income tax return of its parent REIT, must file a Montana Form DER-1, on or before the due date of its parent REIT's information return.

(2) A qualified REIT subsidiary is subject to a late-filing penalty if:

(a) the Montana disregarded entity information return is not filed by the due date (including extensions); or

(b) a return is filed that does not include all of the following information:

(i) name, address, and federal identification number of its REIT parent;

(ii) any assumed business name(s) the qualified REIT subsidiary has registered with the Montana Secretary of State, under which it conducts any trade, business, or occupation in the state, or under which it holds title to any real or tangible personal property in the state;

(iii) the state, country, and date of its incorporation; and

(iv) its Montana source income, deductions, and credits.

History: 15-1-201, 15-30-2620, 15-30-3302, 15-31-501, MCA; IMP, 15-30-2602, 15-30-2603, 15-30-3302, 15-30-3311, 15-30-3312, 15-31-101, 15-31-111, MCA; NEW, 2002 MAR p. 3708, Eff. 12/27/02; AMD, 2013 MAR p. 428, Eff. 3/29/13.