15-31-172. Small business corporation -- deduction for donation of computer equipment to schools. A small business corporation, as defined in 15-30-3301, is allowed a deduction equal to the fair market value, not to exceed 30% of the small business corporation's net income, of a computer or other sophisticated technological equipment or apparatus intended for use with the computer donated to an elementary, secondary, or accredited postsecondary school located in Montana if:
(1) the contribution is made no later than 5 years after the manufacture of the donated property is substantially completed;
(2) the property is not transferred by the donee in exchange for money, other property, or services;
(3) the electing small business corporation receives a written statement from the donee in which the donee agrees to accept the property and representing that the use and disposition of the property will be in accordance with the provisions of subsection (2); and
(4) the deduction allowed in this section is in lieu of the deduction allowed under 15-30-2131 for charitable contributions.
History: En. Sec. 2, Ch. 447, L. 1983; amd. Sec. 3, Ch. 807, L. 1991; amd. Sec. 9, Ch. 634, L. 1993 (voided by I.R. No. 112, Nov. 8, 1994); Sec. 15-30-126, MCA 2007; redes. 15-31-172 by Sec. 1, Ch. 147, L. 2009.
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