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42.2.505    INTEREST ON UNPAID TAX

(1) Interest on unpaid tax must be calculated as set forth in 15-1-216, MCA.

(2) In the case where there is unpaid tax for a year that is reduced by the carryback of a subsequent year's net operating loss, interest on the unpaid tax accrues to the later of:

(a) the due date of the loss year return; or

(b) the date the loss year return is actually filed. This limited interest calculation applies only to the unpaid tax offset by the net operating loss carryback.

History: 15-30-2620, 15-31-501, MCA; IMP, 15-1-216, 15-30-2602, 15-31-502, 15-31-503, 15-31-510, MCA; Eff. 12/31/72; AMD, 1982 MAR p. 14, Eff. 1/15/82; AMD, 1992 MAR p. 2557, Eff. 11/26/92; AMD, 1994 MAR p. 2352, Eff. 8/12/94; AMD and TRANS, from 42.16.104, 2004 MAR p. 3153, Eff. 12/17/04; AMD, 2006 MAR p. 85, Eff. 1/13/06; AMD, 2008 MAR p. 340, Eff. 2/15/08; AMD, 2014 MAR p. 1527, Eff. 7/11/14.

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