15-31-122. Alternative gross sales tax. Pursuant to the provisions of Article III, section 2, of the Multistate Tax Compact, every corporation deriving income from sources both within and without the state of Montana and required to file a return and whose only activity in Montana consists of making sales and which does not own or rent real estate or tangible personal property within Montana and whose annual gross volume of sales made in Montana during the taxable year does not exceed $100,000 may elect to pay a tax of 1/2 of 1% of gross sales made in Montana during the taxable year. Such tax shall be in lieu of the tax otherwise imposed under 15-31-101 and 15-31-121. The gross volume of sales made in Montana during the taxable year shall be determined according to the provisions of Article IV, sections 16 and 17, of the Multistate Tax Compact.
History: En. Sec. 1, Ch. 79, L. 1917; Subd. 16, amd. Sec. 1, Ch. 64, L. 1921; re-en. Sec. 2296, R.C.M. 1921; amd. Sec. 1, Ch. 166, L. 1933; re-en. Sec. 2296, R.C.M. 1935; amd. Sec. 1, Ch. 29, L. 1937; amd. Sec. 1, Ch. 92, L. 1937; amd. Sec. 1, Ch. 232, L. 1957; amd. Sec. 1, Ch. 264, L. 1959; amd. Sec. 1, Ch. 155, L. 1961; amd. Sec. 1, Ch. 269, L. 1965; amd. Sec. 1, Ch. 4, Ex. L. 1967; amd. Sec. 1, Ch. 11, Ex. L. 1969; amd. Sec. 1, Ch. 16, L. 1971; amd. Sec. 1, Ch. 333, L. 1971; amd. Sec. 1, Ch. 5, Ex. L. 1971; amd. Sec. 1, Ch. 7, 2nd Ex. L. 1971; amd. Sec. 1, Ch. 468, L. 1973; amd. Sec. 1, Ch. 484, L. 1973; amd. Sec. 1, Ch. 5, L. 1974; amd. Sec. 1, Ch. 257, L. 1977; R.C.M. 1947, 84-1501(part).
Structure Montana Code Annotated
Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax
Part 1. Corporate Income Tax Rate and Return
15-31-101. Organizations subject to tax -- incorporation of terms that mean corporate income tax
15-31-102. Organizations exempt from tax -- unrelated business income not exempt
15-31-103. Research and development firms exempt from taxation -- application
15-31-104. through 15-31-110 reserved
15-31-111. Return to be filed -- penalty and interest
15-31-113. Gross income and net income
15-31-114. Deductions allowed in computing income
15-31-118. Taxable liability on termination of independent liability fund
15-31-119. Net operating losses -- carryovers and carrybacks -- limit
15-31-121. Rate of tax -- minimum tax -- distribution of revenue
15-31-122. Alternative gross sales tax
15-31-128. and 15-31-129 reserved
15-31-138. through 15-31-140 reserved
15-31-141. Consolidated returns -- computation and procedure -- penalty and interest
15-31-142. Reports upon merger of corporations
15-31-143. Return and payment on corporate dissolution
15-31-144. through 15-31-149 reserved
15-31-151. Credit for preservation of historic buildings
15-31-153. through 15-31-157 reserved
15-31-163. Capital gain exclusion from sale of mobile home park
15-31-164. Notification of mobile home park owners
15-31-165. Account for notification of mobile home park owners
15-31-166. through 15-31-169 reserved
15-31-172. Small business corporation -- deduction for donation of computer equipment to schools
15-31-173. Tax credit for hiring registered apprentices or veteran apprentices
15-31-174. Corporate income tax credit for trades education and training
15-31-175. Grow Montana jobs -- annual job growth incentive tax credit