42.31.2122 GROSS RECEIPTS WITHHOLDING BY AGENCY
(1) The governmental agencies that have awarded a contract for the
performance of public construction or reconstruction works and are making
payment for the satisfactory performance of said contract, or any increment
thereof, must withhold 1% of the amount due and transmit such amount withheld
to the department along with a gross receipts withholding report (form PC-2) which must contain the following:
(a) governmental agency that awarded the contract and is making payment;
(b) contract number, location and general description of construction to be
performed, and the date contract was awarded;
and address of the contractor to whose account the 1% payment is to be
sum due the contractor, including amounts to be withheld until completion of
sum due the contractor less any amount to be withheld until completion of the
contract by including the 1% withholding;
amount paid the contractor at time of reporting; and
transmitted to the department at time of reporting.
withholding agent or agency must in all cases issue a receipt to the contractor
for all monies withheld under Title 15, chapter 50, MCA.
History: Sec. 15-50-301, MCA; IMP, Sec. 15-50-101, 15-50-205, and 15-50-206, MCA; Eff. 12/31/72; AMD, Eff. 5/5/77; AMD, 1995 MAR p. 2854, Eff. 12/22/95; AMD, 2000 MAR p. 3569, Eff. 12/22/00.