Montana Code 15-68-201. Nontaxable transaction certificate — requirements
15-68-201. Nontaxable transaction certificate — requirements. (1) A nontaxable transaction certificate executed by a buyer or lessee must be in the possession of the seller or lessor at the time that a nontaxable transaction occurs.
Terms Used In Montana Code 15-68-201
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Property: means real and personal property. See Montana Code 1-1-205
(2)A nontaxable transaction certificate must contain the information and be in the form prescribed by the department.
(3)Only a buyer or lessee who has registered with the department and whose seller’s permit is valid may execute a nontaxable transaction certificate.
(4)If the seller or lessor accepts a nontaxable transaction certificate within the required time and believes in good faith that the buyer or lessee will employ the property or service transferred in a nontaxable manner, the properly executed nontaxable transaction certificate is considered conclusive evidence that the sale is nontaxable.