42.22.104    TREATMENT OF MOTOR VEHICLES AND SPECIAL MOBILE EQUIPMENT

(1) Special mobile equipment excluded from the definition of situs property as defined in ARM 42.22.101 is to be locally assessed.

(2) Motor vehicles with or without equipment attached are exempt and shall pay a fee in lieu of tax, 61-3-321 and 61-3-529, MCA.

(3) Each centrally assessed company having equipment defined in (1) shall provide the department with a statement showing a description and the total market value for each piece of equipment. The market value shall be the value shown on the special mobile equipment registration, or other tax payment receipt.

(4) Companies that license fleet vehicles with the Montana Motor Carrier Services (MCS) division will provide the net book value for each vehicle licensed by the MCS. This statement is to be filed at the same time the report required by ARM 42.22.105 is filed.

(5) Each centrally assessed company having equipment defined in (2), (3), or (4) shall provide the department with the net book value for each piece of equipment as of January 1 each year. Companies with prorated vehicles shall provide the department with the total number of miles traveled in and out of the state of Montana, a description and the net book value for each vehicle.

(6) The department may, at any time, ask for verification of the reported equipment's registration from the county, other agencies, other states or the company. This verification may be, but is not limited to, supplying the department with copies of each vehicle's Montana registration form. Omission of any requested information may result in loss of or a partial deduction for the equipment.

(7) The total net book value for equipment defined in (2), (3), and (4) shall be deducted on a market-to-cost basis from the state-allocated value, as defined in ARM 42.22.111. The market-to-book ratio shall be determined by dividing the system or unit market value by the system net book value.

(8) The total market value for equipment defined in (1) is deducted from the state allocated value, as defined in ARM 42.22.111, to determine the amount of the state allocated value to be allocated under the provisions of ARM 42.22.122.  

History: 15-23-108, MCA; IMP, 61-3-321, 61-3-529, MCA; NEW, 1980 MAR p. 1091, Eff. 3/28/80; AMD, 1991 MAR p. 2046, Eff. 11/1/91; AMD, 1999 MAR p. 2914, Eff. 12/17/99; AMD, 2002 MAR p. 99, Eff. 1/18/02; AMD, 2015 MAR p. 2149, Eff. 12/11/15.