Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.26 - CORPORATE MULTISTATE ACTIVITIES
Subchapter 42.26.2 - Income Allocation and Apportionment
Rule 42.26.259 - SALE OF TANGIBLE AND INTANGIBLE PROPERTY COMPUTATION OF THE RECEIPTS FACTOR
Universal Citation: MT Admin Rules 42.26.259
Current through Register Vol. 6, March 22, 2024
(1) Refer to ARM 42.26.202 for definitions applicable to this rule.
(2) If a taxpayer derives receipts from the sale of tangible property or the sale or redemption of intangible property not held primarily for sale to customers in the ordinary course of its trade or business such receipts will constitute sales for inclusion in the receipts factor to the following extent:
(a) Only the net receipts from the sale of
tangible or the sale or redemption of intangible property shall be included in
the receipts factor.
(b) In the
case where the taxpayer has multiple transactions from the sale of tangible or
the sale or redemption of intangible property only the net gains in excess of
net losses will be included in the receipts factor.
(c) Before the net receipts from the sale of
tangible property or the sale or redemption of intangible property may be
included in the receipts factor the sales transactions must constitute
apportionable income to the taxpayer.
AUTH: 15-31-313, 15-31-501, MCA; IMP: 15-31-310, 15-31-311, 15-31-312, MCA
Disclaimer: These regulations may not be the most recent version. Montana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
