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Rule Title: CARRYOVER AND RECAPTURE OF BIODIESEL BLENDING AND STORAGE TAX CREDIT
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Department: REVENUE
Chapter: TAX CREDITS
Subchapter: Individual and Corporation - Biodiesel and Biolubricant Tax Credit
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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42.4.2504    CARRYOVER AND RECAPTURE OF BIODIESEL BLENDING AND STORAGE TAX CREDIT

(1) If any part of the credit earned in taxable years beginning after December 31, 2004, is not applied against the tax liability for the year earned, the unused portion of the credit can be carried forward to offset tax liability in the next seven periods.

(2) The credit may be subject to recapture if the facility claiming the credit ceases blending of biodiesel with petroleum diesel for sale for a period of 12 consecutive months. At the point the facility ceases blending of biodiesel with petroleum diesel, any credit claimed in the five years prior to the cease date must be recaptured.

History: 15-30-2620, 15-31-501, MCA; IMP, 15-32-703, MCA; NEW, 2008 MAR p. 61, Eff. 1/18/08; AMD, 2010 MAR p. 1209, Eff. 5/14/10.


 

 
MAR Notices Effective From Effective To History Notes
42-2-822 5/14/2010 Current History: 15-30-2620, 15-31-501, MCA; IMP, 15-32-703, MCA; NEW, 2008 MAR p. 61, Eff. 1/18/08; AMD, 2010 MAR p. 1209, Eff. 5/14/10.
42-2-786 1/18/2008 5/14/2010 History: 15-30-305, 15-31-501, MCA; IMP, 15-32-703, MCA; NEW, 2008 MAR p. 61, Eff. 1/18/08.
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