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Rule Title: S CORPORATION SHAREHOLDER'S ADDITION TO MONTANA ADJUSTED GROSS INCOME
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Department: REVENUE
Chapter: PASS-THROUGH ENTITIES
Subchapter: S Corporations
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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42.9.402    S CORPORATION SHAREHOLDER'S ADDITION TO MONTANA ADJUSTED GROSS INCOME

(1) An S corporation shareholder's income is that income included in federal adjusted gross income plus:

(a) an amount equal to the federal tax on capital gains and the minimum tax paid by the corporation times the shareholder's percentage of ownership;

(b) an amount equal to the excess net passive federal income tax paid by the corporation times the shareholder's percentage of ownership; and

(c) all other amounts equal to federal taxes paid by the corporation that reduce the shareholder's distribution of the net S corporation income.

History: 15-30-2620, MCA; IMP, 15-30-2110, MCA; NEW, 1985 MAR p. 1633, Eff. 11/1/85; TRANS, from ARM 42.15.307 and AMD, 2002 MAR p. 3708, Eff. 12/27/02; AMD, 2010 MAR p. 174, Eff. 1/15/10.


 

 
MAR Notices Effective From Effective To History Notes
42-2-809 1/15/2010 Current History: 15-30-2620, MCA; IMP, 15-30-2110, MCA; NEW, 1985 MAR p. 1633, Eff. 11/1/85; TRANS, from ARM 42.15.307 and AMD, 2002 MAR p. 3708, Eff. 12/27/02; AMD, 2010 MAR p. 174, Eff. 1/15/10.
12/27/2002 1/15/2010 History: Sec. 15-30-305, MCA; IMP, Sec. 15-30-111, MCA; NEW, 1985 MAR p. 1633, Eff. 11/1/85; TRANS, from ARM 42.15.307 and AMD, 2002 MAR p. 3708, Eff. 12/27/02.
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