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42.4.1602    CREDIT FOR NEW OR EXPANDING CORPORATIONS

(1) Sections 15-31-124 through 15-31-127 , MCA, as amended, allow a tax credit equal to 1% of wages paid by a new or expanding corporation. Any corporation seeking credit under 15-31-124 through 15-31-127 , MCA, shall demonstrate its eligibility to the department.

(2) Each corporation seeking a credit under 15-31-124 through 15-31-127 , MCA, shall show:

(a) that it is a corporation pre-registered pursuant to Title 35, chapter 1, MCA, as amended;

(b) that it was registered for the first time during the tax year for which the first credit is claimed or that the industry meets the definition of expanding per 15-31-124 , MCA, as amended; and

(c) that the corporation is engaged in manufacturing as that term is defined in 15-31-124 , MCA.

History: Sec. 15-31-127 and 15-31-501, MCA; IMP, Sec. 15-31-124, MCA; NEW, Eff. 4/6/76; AMD, 2000 MAR p. 1346, Eff. 5/26/00; TRANS, from ARM 42.23.511, 2004 MAR p. 1965, Eff. 8/20/04.

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