42.23.311 FILING REQUIREMENTS UPON MERGER OR CONSOLIDATION
(1) In case of either a merger or a consolidation of corporations, the
absorbed corporations must file final returns covering the period between the
close of the preceding reporting period and the date of merger or
consolidation. For taxable years
beginning after December 31, 1990, the final return filed on a separate company
basis for the period prior to the consolidation is due on the fifteenth day of
the fifth month following the close of the first taxable period for which a
return is filed on a consolidated basis.
A merger will have no effect on the reporting period of the continuing
corporation, and it will file its next return on the basis of its regularly
established period. However, in the
case of a consolidation of corporations, the consolidated company is treated as
a new corporate entity and files its first return for the period commencing
with the date of the consolidation.
(2) Any corporation which acquires another corporation, by any available
method, shall be required to report that income and shall be liable for the
corporate tax due on their combined entire net income for the year
History: Sec. 15-31-501, MCA; IMP, Sec. 15-31-141, MCA; Eff. 12/31/72; AMD, 1992 MAR p. 1764, Eff. 8/14/92; AMD, 2001 MAR p. 2046, Eff. 10/12/01.