15-38-121. Certain royalties exempt. Exempt from taxation are royalties received by:
(1) an Indian tribe with respect to mineral production pursuant to a lease entered into under the Indian Mineral Leasing Act of 1938, 25 U.S.C. 396a through 396g;
(2) the United States as trustee for individual Indians; and
(3) the United States, the state of Montana, or a county or municipal government.
History: En. Sec. 1, Ch. 536, L. 1989; amd. Sec. 1, Ch. 92, L. 1991; amd. Sec. 35, Ch. 451, L. 1995.
Structure Montana Code Annotated
Chapter 38. Resource Indemnity Trust and Ground Water Assessment
15-38-104. Tax on mineral production
15-38-105. Report of gross yield from mines
15-38-106. Payment of tax -- records -- collection of taxes -- refunds
15-38-107. Procedure in case of failure to file statement
15-38-108. Warrant for distraint
15-38-109. Restricted access to records
15-38-110. Deficiency assessment -- review -- penalty and interest
15-38-111. Credit for overpayment -- interest on overpayment
15-38-112. Statute of limitations
15-38-113. Exemption from resource indemnity and ground water assessment tax
15-38-114. through 15-38-120 reserved
15-38-121. Certain royalties exempt
15-38-122. through 15-38-124 reserved
15-38-125. Gross value of product for coal
15-38-126. Gross value of product for talc
15-38-127. Gross value of product for vermiculite
15-38-128. Gross value of product for limestone
15-38-129. Gross value of product for industrial garnets and byproducts