Montana Code 15-31-175. Grow Montana jobs — annual job growth incentive tax credit
15-31-175. (Temporary) Grow Montana jobs — annual job growth incentive tax credit. (1) There is an annual job growth incentive tax credit against the taxes otherwise due under 15-31-121 or 15-31-122 that is allowable in the amount established pursuant to 15-30-2361 when a taxpayer hires qualifying new employees in the state. The credit is administered as provided in 15-30-2361, 39-11-404, and this section.
Terms Used In Montana Code 15-31-175
- 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.
- 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
(2)If the credit allowed under this section is claimed by a small business corporation as defined in 15-30-3301 or a partnership, the credit must be attributed to shareholders or partners using the same proportion to report the corporation’s or partnership’s income or loss for Montana income tax purposes. (Terminates December 31, 2028–sec. 4, Ch. 391, L. 2023.)