Montana Title 30. Trade and Commerce § 30-20-208. Tax exemptions for providing loans to manufacturer of ammunition components--conditions

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) Subject to subsection (2), a lender or investor that provides loans to a person or entity in this state engaged in the primary business of the manufacture of ammunition components under the provisions of 30-20-207 is exempt from:

(a) individual income taxes as provided in Title 15, chapter 30; and

(b) corporate income or alternative corporate income taxes as provided in Title 15, chapter 31.

(2) The exemption provided for in this section:

(a) does not apply to an employer's share of employee payroll taxes that are used to finance state-mandated programs, including unemployment insurance and workers' compensation; and

(b) may be claimed only for income attributable to providing a bona fide loan in an arms' length transaction to a manufacturer of ammunition components that satisfies the conditions of 30-20-207.

Previous Part of Code Next Part of Code

Back to Chapter List

Cite this article: FindLaw.com - Montana Title 30. Trade and Commerce § 30-20-208. Tax exemptions for providing loans to manufacturer of ammunition components--conditions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-30-trade-and-commerce/mt-code-ann-sect-30-20-208/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Did FindLaw Help You Understand This Legal Issue?

Make It a Preferred Google Search Source

Add to Google

Latest Blog Posts

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)