Rule 42.4.2302 - CLAIMING THE UNLOCKING PUBLIC LANDS TAX CREDIT(1) To claim the unlocking public lands tax credit, a claimant who is a landowner and has met the cooperative agreement (agreement) requirements of 87-1-294, MCA, must file a Montana tax return (Form 2 for individuals, Form FID-3 for estates and trusts, or Form CIT for C corporations), regardless of whether they are required to file a return for the year the credit is being claimed.(2) A claimant who files a return on a calendar year basis shall claim the credit for the tax year in which the agreement applied.(3) A claimant who files a return on a fiscal year basis shall claim the credit for the tax year in which the agreement was certified by the Montana Department of Fish, Wildlife and Parks.(4) A claimant shall include copies of all tax certification numbers, agreements, and supporting documents when filing their return.(5) When reviewing a claim for the credit, the department may request additional information to determine a claimant's eligibility for the allocation of the credit being claimed. This information may include, but is not limited to:(a) documentation establishing ownership and ownership percentage of the parcel(s);(b) a Montana Schedule K-1 issued by a partnership, S corporation, or fiduciary indicating the partner, shareholder, or beneficiary's share of the credit; or(c) a return filed by a partnership, S corporation, or fiduciary including information showing the owners of the entity.Mont. Admin. r. 42.4.2302
NEW, 2014 MAR p. 2659, Eff. 10/24/14; AMD, 2017 MAR p. 2095, Eff. 11/10/2017; AMD, 2024 MAR p. 2162, Eff. 9/7/2024AUTH: 15-1-201, MCA; IMP: 15-30-2380, 87-1-294, MCA