Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.26 - CORPORATE MULTISTATE ACTIVITIES
Subchapter 42.26.4 - Special Rules Related to Installment Sales
Rule 42.26.402 - UNREPORTED INCOME ON INSTALLMENT OBLIGATION IN YEAR OF DISSOLUTION
Universal Citation: MT Admin Rules 42.26.402
Current through Register Vol. 6, March 22, 2024
(1) Where a taxpayer elects to report income arising from the sale or other disposition of property as provided under this rule and the entire income therefrom has not been reported prior to the year that the taxpayer ceases to be subject to tax under 15-31-301, MCA, the unreported income shall be included in the measure of the tax for the last year in which the taxpayer is subject to tax under 15-31-301, MCA.
Sec. 15-31-313 and 15-31-501, MCA; IMP, Sec. 15-31-305, MCA;
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