15-24-1204. Rate of privilege -- tax credit for federal payments in lieu of taxes. The tax imposed upon the possession or other beneficial use of tax-exempt property for industrial, trade, or other business purposes is on the separate private interest in the tax-exempt property. The amount of payments that are made in lieu of taxes must be credited against the amount of tax that is imposed upon the beneficial use of property owned by the federal government.
History: En. Sec. 2, Ch. 370, L. 1969; R.C.M. 1947, 84-208; amd. Sec. 2, Ch. 104, L. 1993; amd. Sec. 1, Ch. 256, L. 1993; amd. Sec. 2, Ch. 427, L. 1993.
Structure Montana Code Annotated
Chapter 24. Special Property Tax Applications
Part 12. State and Other Exempt Property
15-24-1201. State and other exempt property held under contract -- when taxable
15-24-1202. Taxable interests in state and other exempt property -- assessment
15-24-1204. Rate of privilege -- tax credit for federal payments in lieu of taxes
15-24-1205. Privilege tax -- assessment and collection -- no lien
15-24-1206. County suit for delinquent privilege tax
15-24-1207. Reporting requirements -- penalty -- rules
15-24-1208. Apportionment of tax-exempt property
15-24-1209. Adjustment of taxes for formerly taxed property -- presumption of taxability