15-38-121. Certain royalties exempt.
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/mt/title-15/chapter-38/part-1/15-38-121·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
15-38-121 . Certain royalties exempt. Exempt from taxation are royalties received by:
(1)an Indian tribe with respect to mineral production pursuant to a lease entered into under the Indian Mineral Leasing Act of 1938, 25 U.S.C. 396a through 396g;
(2)the United States as trustee for individual Indians; and
(3)the United States, the state of Montana, or a county or municipal government.