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Rule Title: CLAIMING THE INFRASTRUCTURE USER FEE CREDIT
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Department: REVENUE
Chapter: TAX CREDITS
Subchapter: Individual and Corporation - Infrastructure Users Fee
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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42.4.3003    CLAIMING THE INFRASTRUCTURE USER FEE CREDIT

(1) A taxpayer who qualifies for the infrastructure user fee credit may take the full credit for the fees paid. The credit is not to exceed the loan principal paid plus interest.

(2) When claiming the credit, the taxpayer must attach to their tax return a completed copy of Form IUFC, Infrastructure User Fee Credit.

(3) A credit will not be allowed for any infrastructure user fee that was not timely paid.

(4) The credit is nonrefundable. Any excess credit must first be carried back to each of the three preceding taxable periods, reducing the tax liability to zero, and then carried forward to each of the seven taxable periods following the taxable period of the credit. The current year credit must be applied first before any carry back or carry forward will be allowed.

History: 15-1-201, MCA; IMP, 17-6-309, 17-6-316, MCA; NEW, 1996 MAR p. 1178, Eff. 4/26/96; TRANS, from ARM 42.23.505, 2004 MAR p. 1965, Eff. 8/20/04; AMD, 2010 MAR p. 1209, Eff. 5/14/10; AMD, 2013 MAR p. 216, 2/15/13.


 

 
MAR Notices Effective From Effective To History Notes
42-2-889 2/15/2013 Current History: 15-1-201, MCA; IMP, 17-6-309, 17-6-316, MCA; NEW, 1996 MAR p. 1178, Eff. 4/26/96; TRANS, from ARM 42.23.505, 2004 MAR p. 1965, Eff. 8/20/04; AMD, 2010 MAR p. 1209, Eff. 5/14/10; AMD, 2013 MAR p. 216, 2/15/13.
42-2-822 5/14/2010 2/15/2013 History: 15-1-201, MCA; IMP, 17-6-309, 17-6-316, MCA; NEW, 1996 MAR p. 1178, Eff. 4/26/96; TRANS, from ARM 42.23.505, 2004 MAR p. 1965, Eff. 8/20/04; AMD, 2010 MAR p. 1209, Eff. 5/14/10.
8/20/2004 5/14/2010 History: Sec. 15-1-201, MCA; IMP, Sec. 17-6-309 and 17-6-316, MCA; NEW, 1996 MAR p. 1178, Eff. 4/26/96; TRANS, from ARM 42.23.505, 2004 MAR p. 1965, Eff. 8/20/04.
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