(1) Within 60 days of the conclusion of the principal photography, the statement of expenditures and compensation paid to Montana residents referred to in 15-31-905, MCA, shall be sent to the department on Form FPC-PP, Film Production Credit - Principal Photography. However, the production company may supplement this statement of expenditures and compensation with a new statement that reflects expenditures and compensation paid to Montana residents arising after principal photography is complete. The company should complete a new Form FPC-PP, indicate that it is a supplement to a prior form, and submit it within 60 days of the completion of the additional photography.

(2) When the production company files its tax return, it shall complete Form FPC, Film Production Credit, with supporting documentation and return it to the department along with Form FPC-AF, Film Production Credit - Application Fee, and the appropriate fee as provided in 15-31-906, MCA.

(3) Allowed credits shall be claimed against the tax imposed under 15-30-2103 or 15-31-121, MCA, for the income year in which the production expenses or costs were incurred.