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Rule Title: NET OPERATING LOSSES
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Department: REVENUE
Chapter: CORPORATE INCOME TAX - GENERAL
Subchapter: Net Operating Losses
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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42.23.801    NET OPERATING LOSSES

(1) The net operating loss deduction is allowed as provided in the rules contained in this subchapter.

(2)(a) The term "net operating loss deduction" means the aggregate of the net operating loss carryovers plus the net operating loss carrybacks applicable to the taxable period.

(b) The term "net operating loss" means the excess of deductions over the gross income for a particular taxable period with the following modifications:

(i) No deduction is allowed for any net operating loss carryover or carryback from another year.

(ii) Any excess of percentage depletion over cost depletion must be added back to net income. 

 

History: 15-31-501, MCA; IMP, 15-31-114, MCA; Eff. 12/31/72; AMD, 2001 MAR p. 2046, Eff. 10/12/01; TRANS, from ARM 42.23.412, 2011 MAR p. 2053, Eff. 9/23/11; AMD, 2011 MAR p. 2700, Eff. 12/9/11; AMD, 2020 MAR p. 395, Eff. 2/29/20.


 

 
MAR Notices Effective From Effective To History Notes
42-1015 2/29/2020 Current History: 15-31-501, MCA; IMP, 15-31-114, MCA; Eff. 12/31/72; AMD, 2001 MAR p. 2046, Eff. 10/12/01; TRANS, from ARM 42.23.412, 2011 MAR p. 2053, Eff. 9/23/11; AMD, 2011 MAR p. 2700, Eff. 12/9/11; AMD, 2020 MAR p. 395, Eff. 2/29/20.
42-2-871 12/9/2011 2/29/2020 History: 15-31-501, MCA; IMP, 15-31-114, MCA; Eff. 12/31/72; AMD, 2001 MAR p. 2046, Eff. 10/12/01; TRANS, from ARM 42.23.412, 2011 MAR p. 2053, Eff. 9/23/11; AMD, 2011 MAR p. 2700, Eff. 12/9/11.
42-2-863 9/23/2011 12/9/2011 History: 15-31-501, MCA; IMP, 15-31-114, MCA; Eff. 12/31/72; AMD, 2001 MAR p. 2046, Eff. 10/12/01; TRANS, from ARM 42.23.412, 2011 MAR p. 2053, Eff. 9/23/11.
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