Montana Code 2-18-1312. Tax exemption
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2-18-1312. Tax exemption. Employer contributions into an account, the accumulation of interest or other earnings in an account, and payments from an account for qualified health care expenses are tax-exempt, as provided under applicable federal laws and regulations to the extent that the plan is qualified under applicable sections of the Internal Revenue Code.
Terms Used In Montana Code 2-18-1312
- account: means an account established for the payment of qualified health care expenses under the plan. See Montana Code 2-18-1303
- Employer: means a legally constituted department, board, commission, or any other administrative unit of state government, a county, an incorporated city or town, or any other political subdivision of the state, including a school district, or a unit of the university system. See Montana Code 2-18-1303
- Plan: means the employee welfare benefit plan established under section 501(c)(9) of the Internal Revenue Code, 26 U. See Montana Code 2-18-1303
- Qualified health care expenses: means expenses paid by a participant for medical care, as defined by 26 U. See Montana Code 2-18-1303