Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.26 - CORPORATE MULTISTATE ACTIVITIES
Subchapter 42.26.2 - Income Allocation and Apportionment
Rule 42.26.236 - VALUATION OF RENTED PROPERTY
Current through Register Vol. 6, March 22, 2024
(1) Property rented by the taxpayer is valued at eight times its net annual rental rate.
(2) ARM 42.26.202 provides the definitions that apply to valuing rental property.
(3) Leasehold improvements shall, for the purposes of the property factor, be treated as property owned by the taxpayer regardless of whether the taxpayer is entitled to remove the improvements or the improvements revert to the lessor upon expiration of the lease. Hence, the original cost of leasehold improvements shall be included in the factor.
AUTH: 15-1-201, 15-31-313, 15-31-501, MCA; IMP: 15-1-601, 15-31-305, 15-31-306, 15-31-307, MCA