Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.23 - CORPORATION LICENSE TAX - GENERAL
Subchapter 42.23.2 - Tax Accounting
Rule 42.23.211 - USE OF SEPARATE ACCOUNTING METHOD
Universal Citation: MT Admin Rules 42.23.211
Current through Register Vol. 6, March 22, 2024
(1) In applying the separate accounting method, each item of income is segregated and directly allocated according to its source. Any expense or other deductible items, including a reasonable allowance for general overhead expenses, attributable to the earning of such income are likewise segregated and deducted from such income. Items of nonapportionable income are to be allocated as provided for under 15-31-304, MCA.
AUTH: 15-31-313, 15-31-501, MCA; IMP: Title 15, chapter 31, part 3, MCA
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