HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 42.19.1213 Prev     Up     Next    
Rule Title: CHANGES IN OPERATIONS
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

42.19.1213    CHANGES IN OPERATIONS

(1) As a new industry adds to its plant and properties during the three-year period provided for in 15-6-135 , MCA, the additional property, if it otherwise qualifies, is also classified as new industry property for the remainder of the period.

(2) Classification as new industry property ceases upon sale; transfer; change of possession; or other change in ownership, possession, or control of such property, unless prior to such action, application is made by the transferee for continuation as new industry property and the application is granted by the department. The loss of classification as new industry property does not apply to transactions such as the mortgaging of the property or otherwise using the property as security when there is no change in ownership or possession.

(3) If a qualified new industry ceases to operate as a new industry under the provisions of 15-6-135 , MCA, the classification as new industry property terminates.

(4) If a qualified new industry ceases to operate, either temporarily or permanently, the three-year period continues until its normal expiration date, regardless of subsequent commencement of new operations. Once a date is established it cannot be modified. Following cessation of operation, an application for classification as new industrial property may not be granted unless the new operation is substantially different from the former operation.

History: 15-1-201, MCA; IMP, 15-6-135, 15-6-192, MCA; NEW, 1980 MAR p. 1088, Eff. 3/28/80; AMD, 1991 MAR p. 2638, Eff. 12/27/91; AMD, 2004 MAR p. 490, Eff. 2/27/04; AMD, 2006 MAR p. 3102, Eff. 12/22/06.


 

 
MAR Notices Effective From Effective To History Notes
12/22/2006 Current History: 15-1-201, MCA; IMP, 15-6-135, 15-6-192, MCA; NEW, 1980 MAR p. 1088, Eff. 3/28/80; AMD, 1991 MAR p. 2638, Eff. 12/27/91; AMD, 2004 MAR p. 490, Eff. 2/27/04; AMD, 2006 MAR p. 3102, Eff. 12/22/06.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security