Infrastructure Users Fee Credit - This provides a tax credit for new businesses located in Montana which create at least 15 jobs in the basic sector of the economy of a local community. The credit is calculated based on the infrastructure fees paid by the new business to the local government.

Increasing Research Activities Credit - A credit is available for increases in qualified research expenses and basic research payments for research conducted in Montana. The credit is determined in accordance with Section 41 of the IRC, 26, U.S.C. 41, except the applicable percentage rate is 5% for Montana purposes. A completed form provided by the department must be attached to the return. Any unused credit cannot be refunded in the year reported, but may be carried back 2 years and carried forward 15 years.

Mineral Exploration Incentive Credit - A credit may be claimed for certified expenditures of mining exploration activities (15-32- 501, MCA), not to exceed 50% of the tax liability. Certified expenditures represent costs incurred for activities in direct support of exploration activity conducted at a specific exploration site. The credit applies to activities associated with both new mines and mines that are being reopened. A completed copy of Form MINE-CRED provided by the department must be attached to the return. To obtain the credit, you must first submit a request that details the work done and the expenses incurred. This must be done within 60 days following the end of the calendar year on a form provided by the department. The department then has until September 30 to certify whether the expenses quality for the credit.

Affordable Housing Revolving Loan Account Credit - You may be entitled to a tax credit for contributions made during the year to the affordable housing revolving loan account established in 90-6-133, MCA. You are allowed a tax credit in an amount equal to 20% of the amount donated to this account. The maximum credit is $10,000 and may not exceed your income tax liability. There are no carry-over provisions allowed. You are not entitled to this credit if you have claimed the full amount of the contribution as an itemized deduction or if you have applied the contribution to the Qualified Endowment Credit.

Back