42.26.703    THE PROPERTY FACTOR

(1) The denominator of the property factor shall be the average value of all the taxpayer's real and tangible personal property owned or rented and used during the income year. The numerator of the property factor shall be the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the income year. In the determination of the numerator of the property factor, all property, except mobile property as defined in this rule, shall be included in the numerator of the property factor in accordance with ARM 42.26.231 through 42.26.237, inclusive. Mobile property, as defined in 42.26.202, which is located solely within this state during the income year shall be included in the numerator of the property factor. Mobile property, which is located within and without this state during the income year, shall be included in the numerator of the property factor in the ratio which mobile property miles in the state bear to the total mobile property miles.

History: Sec. 15-31-313 and 15-31-501, MCA; IMP, Sec. 15-31-306 and 15-31-307, MCA; NEW, 1988 MAR p. 1817, Eff. 8/12/88; TRANS, from 42.26.271 and AMD, 2001 MAR p. 2469, Eff. 12/21/01.