Montana Code Annotated
Part 23. Specific Tax Credits and Tax Checkoffs
15-30-2393. Election to deposit refund to education savings or ABLE account

15-30-2393. (Temporary) Election to deposit refund to education savings or ABLE account. Each individual taxpayer who is required to file an income tax return under Title 15, chapter 30, may elect to directly deposit a refund from the return to a Montana family education savings program account provided for in Title 15, chapter 62, part 1, a Montana achieving a better life experience program account provided for in Title 53, chapter 25, part 1, or an account for similar programs established and maintained by another state. In order to make the election the taxpayer must be eligible to claim an exclusion from adjusted gross income for the contribution as provided in 15-30-2110. The department may prescribe additional forms and require the taxpayer to provide sufficient information for the proper administration of the deposit requirement.
15-30-2393. (Effective January 1, 2024) Election to deposit refund to education savings or ABLE account. Each individual taxpayer who is required to file an income tax return under Title 15, chapter 30, may elect to directly deposit a refund from the return to a Montana family education savings program account provided for in Title 15, chapter 62, part 1, a Montana achieving a better life experience program account provided for in Title 53, chapter 25, part 1, or an account for similar programs established and maintained by another state. In order to make the election the taxpayer must be eligible to claim an exclusion from Montana taxable income for the contribution as provided in 15-30-2120. The department may prescribe additional forms and require the taxpayer to provide sufficient information for the proper administration of the deposit requirement.
History: En. Sec. 1, Ch. 115, L. 2019; amd. Sec. 17, Ch. 503, L. 2021.

Structure Montana Code Annotated