Rule 42.23.113 - RESEARCH AND DEVELOPMENT FIRM - EXEMPTION PERIOD(1) An entity that qualifies as a research and development firm as defined in 15-1-101, MCA, and is incorporated or qualified to do business in Montana on or after July 1, 1987, is exempt from the corporate income tax on the net income earned from research and development activities for its first five tax periods.Mont. Admin. r. 42.23.113
NEW, 1987 MAR p. 1802, Eff. 10/16/87; AMD, 2001 MAR p. 2046, Eff. 10/12/01; AMD, 2016 MAR p. 2198, Eff. 11/26/2016 AUTH: 15-31-501, MCA; IMP: 15-31-103, MCA