HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 42.19.1202 Prev     Up     Next    
Rule Title: TREATMENT OF PROPERTY NOT USED AS PART OF THENEW INDUSTRY
Add to My Favorites
Add to Favorites
Department: REVENUE, DEPARTMENT OF
Chapter: GENERAL PROPERTY TAX PROVISIONS
Subchapter: New Industrial Property
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

42.19.1202    TREATMENT OF PROPERTY NOT USED AS PART OF THENEW INDUSTRY

(1) In order to qualify as new industrial property, the property in question must be used by the new firm in a qualifying activity at all times during the three-year exemption period. Land held for future use or for nonindustrial use is excluded from classification as new industrial property. Only property used directly in the qualifying activity may qualify. Property used in a supplementary fashion, such as a housing development in conjunction with an industrial plant, does not qualify.

(2) Raw materials, in-process, and finished product "business inventories" are not considered new industrial property and are exempt from property taxation under 15-6-202 , MCA. Similarly, all materials, supplies, and merchandise held for sale or used by a new industrial plant are not considered to be new industrial property.

History: 15-1-201, MCA; IMP, 15-6-135, 15-6-192, 15-24-1401, 15-24-1402, MCA; NEW, 1980 MAR p. 1088, Eff. 3/28/80; AMD, 1991 MAR p. 2638, Eff. 12/27/91; AMD, 1992 MAR p. 2559, Eff. 11/26/92; AMD, 2004 MAR p. 490, Eff. 2/27/04.


 

 
MAR Notices Effective From Effective To History Notes
2/27/2004 Current History: 15-1-201, MCA; IMP, 15-6-135, 15-6-192, 15-24-1401, 15-24-1402, MCA; NEW, 1980 MAR p. 1088, Eff. 3/28/80; AMD, 1991 MAR p. 2638, Eff. 12/27/91; AMD, 1992 MAR p. 2559, Eff. 11/26/92; AMD, 2004 MAR p. 490, Eff. 2/27/04.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security