Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.23 - CORPORATION LICENSE TAX - GENERAL
Subchapter 42.23.8 - Net Operating Losses
Rule 42.23.803 - FILINGS IN CONNECTION WITH NET OPERATING LOSSES

(1) Every corporation claiming a net operating loss deduction for any taxable period must file with its return for such period a schedule showing in detail the computation of the net operating loss deduction claimed.

(2) Corporations that are members of a unitary group filing a single return must use intrastate apportionment to calculate the net operating loss and net operating loss deduction for each member of the unitary group that is engaged in business in the state. A net operating loss for one member of a unitary group cannot be carried back or carried over to offset the income of another member included in the unitary group.

(3) If a corporation has a net operating loss which when carried back to a prior taxable period results in an overpayment of tax for such taxable period, a refund may be obtained by filing an amended return for that period claiming the net accordingly. Interest does not accrue on overpayments of tax resulting from a net operating loss carryback or carryover.

(4) Any net operating loss carried over to any taxable years beginning after December 31, 1978, must be calculated under the provisions of 15-31-114, MCA, and the rules promulgated thereunder that are effective for the taxable year for which the return claiming the net operating loss carryover is filed.