Administrative Rules of Montana
Department 42 - REVENUE
Chapter 42.9 - PASS-THROUGH ENTITIES
Subchapter 42.9.1 - General
Rule 42.9.111 - PASS-THROUGH ENTITIES - STATUTE OF LIMITATIONS FOR AUDIT ADJUSTMENTS

(1) The department may revise any return of an entity if, in the opinion of the department, it is incorrect in any essential respect.

(2) If a revision to a pass-through entity's information return changes the owners' distributive share of Montana source income, gain, loss, deduction, or credit or item of income, gain, loss, deduction, or credit, the department will review the owners' tax returns and determine if additional tax is due. If additional tax is due, the department may assess tax, penalties, and interest as follows:

(3) If a revision to a pass-through entity's composite return changes the amount of tax, penalties, and interest due on a composite return filed by the pass-through entity, the tax, penalties, and interest may be assessed within:

(4) For purposes of (2) and (3), any return filed before the original due date is considered to be filed on the original due date.

(5) If no return was filed by the taxpayer, the department may assess tax, penalties, and interest at any time.

(6) There are various circumstances under which the statute of limitations described in (2)(a) and (3) may be extended as provided in 15-30-2605, MCA. The statute of limitations described in (2)(b) may be extended as provided in 15-31-509, MCA.