42.4.2902 : COMPUTATION OF THE TAX CREDIT FOR THE PRESERVATION OF HISTORIC PROPERTIES - Administrative Rules of the State of Montana

42.4.2902 COMPUTATION OF THE TAX CREDIT FOR THE PRESERVATION OF HISTORIC PROPERTIES

(1) Montana's tax credit for the preservation of historic buildings is to be computed using the federal credit allowed by 26 USC 47, which is a component of the federal general business credit. No other component of the federal general business credit may be used to compute Montana's credit for the preservation of historic buildings.

(2) Qualifying expenditures used to calculate the credit for the preservation of historic buildings must be reduced by amounts used in calculating other Montana tax credits or tax incentives.

History: 15-30-2620, 15-31-501, MCA; IMP, 15-30-2342, 15-31-151, MCA; NEW, 1998 MAR p. 184, Eff. 1/16/98; AMD and TRANS, from ARM 42.15.520, 2004 MAR p. 1965, Eff. 8/20/04; AMD, 2010 MAR p. 1209, Eff. 5/14/10; AMD, 2015 MAR p. 2362, Eff. 12/25/15.

MAR Notices

Effective From

Effective To

History Notes

42-2-945

12/25/2015

Current

42-2-822

5/14/2010

12/25/2015

8/20/2004

5/14/2010

History: Sec. 15-30-305 and 15-31-501, MCA; IMP, Sec. 15-30-180 and 15-31-151, MCA; NEW, 1998 MAR p. 184, Eff. 1/16/98; AMD and TRANS, from ARM 42.15.520, 2004 MAR p. 1965, Eff. 8/20/04.