Montana Code 15-23-211. Definitions
15-23-211. Definitions. As used in 15-23-211 through 15-23-216, unless the context requires otherwise, the following definitions apply:
Terms Used In Montana Code 15-23-211
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(1)”Average levy” means the average statewide rate of taxation on commercial and industrial property.
(2)”Person” includes an individual, firm, association, company, partnership, corporation, joint-stock company, agency, syndicate, or cooperative.
(3)”Private railroad cars” means all railroad cars that:
(a)are not owned by a railroad company operating in this state;
(b)are used for transporting persons or freight; and
(c)are not otherwise assessed for property taxation in this state.
(4)”Railroad car company” means any person, other than a railroad company, engaged in operating, leasing, or furnishing private railroad cars, whether or not owned by that person, for the transportation of persons or freight over railroad lines located wholly or partially within this state.