15-31-523. Suspension or forfeiture on delinquency. (1) If a tax computed and levied under this chapter is not paid or if a return is not filed before 5 p.m. on the last day of the 11th month after the date of delinquency, the corporate powers, rights, and privileges of the delinquent taxpayer, if it is a domestic corporation, must be suspended, and if the delinquent taxpayer is a foreign corporation, it forfeits its rights to do intrastate business in this state. If a domestic corporation fails for a period of 5 consecutive years either to file a return or to pay the corporate income tax, the department shall notify the corporation by mail addressed to the latest address on file in its office that the corporation will become dissolved if it fails to file all delinquent reports and pay all delinquent corporate income taxes within a period of 60 days after the mailing of the notice. If the delinquent reports are not made and all delinquent taxes are not paid before the expiration of the 60-day period, the department shall certify this fact to the secretary of state, and upon receipt of the certificate, the corporation must be dissolved and the secretary of state shall indicate, by the secretary of state's records, the dissolution.
(2) The department shall transmit the name of each corporation described in subsection (1) to the secretary of state, who shall immediately record the transmission in a manner that is available to the public. The suspension, forfeiture, or dissolution provided for in this section becomes effective immediately when the record is made, and the certificate of the secretary of state is conclusive evidence of the suspension, forfeiture, or dissolution.
History: En. Sec. 10, Ch. 166, L. 1933; re-en. Sec. 2303.6, R.C.M. 1935; amd. Sec. 1, Ch. 94, L. 1947; amd. Sec. 64, Ch. 516, L. 1973; R.C.M. 1947, 84-1514; amd. Sec. 69, Ch. 575, L. 1981; amd. Sec. 175, Ch. 56, L. 2009; amd. Sec. 27, Ch. 268, L. 2013.
Structure Montana Code Annotated
Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax
Part 5. Administration and Collection
15-31-501. Department rules -- conformance with Internal Revenue Code
15-31-502. Assessment and payment of tax -- estimated tax payment -- amount of required installments
15-31-503. Deficiency assessment -- notice -- penalty and interest
15-31-504. Estimated tax on failure to file
15-31-505. Subpoenas -- investigation of income, and shifting
15-31-506. Copy of federal return required -- report of amended federal return
15-31-509. Periods of limitation
15-31-510. Estimated payments -- tax returns -- penalty and interest
15-31-511. Confidentiality of tax records
15-31-512. through 15-31-520 reserved
15-31-522. When immediate payment demanded
15-31-523. Suspension or forfeiture on delinquency
15-31-524. Reviver of corporation after suspension or forfeiture
15-31-525. Levy upon and sale of property
15-31-526. Action by attorney general
15-31-528. through 15-31-530 reserved
15-31-531. Credit for overpayment -- interest on overpayment
15-31-532. Application for refund -- appeal from denial
15-31-533. through 15-31-540 reserved
15-31-541. Site of failure to act -- evidence
15-31-543. Forfeiture of right to engage in business -- penalties
15-31-544. Action on false or fraudulent return
15-31-546. through 15-31-550 reserved
15-31-551. Certified copies of corporate income tax returns to taxpayer -- fee
15-31-553. Fees to reimburse department for costs -- deposit in general fund