15-30-3327. Making pass-through entity tax election.
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/mt/title-15/chapter-30/part-33/15-30-3327·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
15-30-3327 . Making pass-through entity tax election.
(1)The election must be made annually no later than the due date, including extensions, of the pass-through entity's tax return as prescribed by 15-30-3302 . The election for a tax year is irrevocable for the year it is made.
(2)The pass-through entity must designate a Montana pass-through entity representative who is authorized to make the election to subject the pass-through entity to the tax provided for in 15-30-3325 through 15-30-3328 .
(a)The Montana pass-through entity representative acts on behalf of the pass-through entity for the applicable tax year.
(b)With respect to an action required or permitted to be taken by a pass-through entity under 15-30-3325 through 15-30-3328 and a proceeding under 15-1-211 with respect to the action, the Montana pass-through entity representative for the tax year has the sole authority to act on behalf of the pass-through entity, and the pass-through entity's direct owners and indirect owners are bound by those actions.
(c)The department may establish reasonable qualifications and procedures for designating a person to be the Montana pass-through entity representative.
(3)Nothing in this section prevents a pass-through entity that does not have business activity in the state during the tax year but that does have resident owners from electing to pay the entity tax.