15-30-3321. Small business option unavailable on dissolution -- exception. In the case of corporation dissolution, no benefits may be taken under the "small business act" or under any law or regulation shifting the tax to be paid from the corporation to the shareholders unless all shareholders agree to assume personal income tax liability the same as they would bear if they were residents of this state.
History: En. Sec. 2, Ch. 60, L. 1963; R.C.M. 1947, 84-1501.3; Sec. 15-31-203, MCA 1999; redes. 15-30-1121 by Sec. 16(2), Ch. 143, L. 2001; Sec. 15-30-1121, MCA 2007; redes. 15-30-3321 by Sec. 1, Ch. 147, L. 2009.
Structure Montana Code Annotated
Chapter 30. Individual Income Tax
Part 33. Small Business and Pass-Through Entities
15-30-3301. Definition of small business corporation
15-30-3302. Income or license tax involving pass-through entities -- information returns required
15-30-3303. through 15-30-3310 reserved
15-30-3311. Taxation of partners, shareholders, managers, and members
15-30-3312. Composite returns and tax
15-30-3313. Consent or withholding -- rulemaking
15-30-3314. Review of pass-through entity taxation by department
15-30-3315. Electronic partnership return required -- waiver -- rulemaking
15-30-3316. through 15-30-3320 reserved
15-30-3321. Small business option unavailable on dissolution -- exception