42.23.114    REORGANIZATIONS

(1) A corporation which is created through the reorganization of a corporation currently operating in Montana, is not eligible for the research and development tax benefits if the newly created research and development subsidiary is essentially continuing current and past activities of the parent in Montana. If the newly created corporation is carrying on new research and development activities separate and distinct from the operations of the parent, the corporation will be eligible for tax benefits.

History: Sec. 15-31-501, MCA; IMP, Sec. 15-31-103, MCA; NEW, 1987 MAR p. 1802, Eff. 10/16/87.