Montana Code 72-16-1004. Liability for tax — interest on delinquent tax
Current as of: 2023 | Check for updates
|
Other versions
72-16-1004. Liability for tax — interest on delinquent tax. The person liable for payment of the federal generation-skipping transfer tax is liable for the tax imposed under 72-16-1002. If the tax imposed by 72-16-1002 is not paid within the time established in 72-16-1003, the tax is delinquent and draws interest at the rate of 10% a year.
Terms Used In Montana Code 72-16-1004
- Federal generation-skipping transfer tax: means the tax imposed by section 2601, Internal Revenue Code. See Montana Code 72-16-1001
- Generation-skipping transfer: means the generation-skipping transfer defined in section 2611, Internal Revenue Code, when the original transferor is a resident of Montana on the date of the original transfer or when the property is real or personal property located in Montana. See Montana Code 72-16-1001
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201