Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.15 - INCOME TAX
Subchapter 42.15.4 - Personal and Dependent Exemptions
Rule 42.15.414 - DEDUCTIONS FOR SMALL BUSINESS DONATIONS OF COMPUTER EQUIPMENT TO SCHOOLS
Universal Citation: MT Admin Rules 42.15.414
Current through Register Vol. 6, March 22, 2024
(1) A taxpayer, who is a shareholder of an electing small business corporation, claiming a deduction for gifts of computer equipment as provided for in 15-31-172, MCA, must attach the following information to the tax return claiming the deduction:
(a) a complete description of all items
donated;
(b) a statement of the
fair market value of each item donated;
(c) the date of manufacture for each item
donated;
(d) the date the software
was developed; and
(e) a copy of
the written statement from the donee in which the donee agrees to accept the
property and represents that the property will not be transferred by the donee
in exchange for money, other property, or services.
(2) For the purposes of the deduction allowed by 15-31-172, MCA, apparatus intended for use with the computer shall include, but not be limited to, software provided that the software was not developed more than five years prior to the date of its donation to a school.
15-30-2620, MCA; IMP, 15-31-172, MCA;
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