- (1) A credit for increases in qualified research expenses and basic research payments that occurred prior to January 1, 2011, is allowed to a qualified corporation, an individual, a small business corporation, a partnership, a limited liability partnership, or a limited liability company. Except as specifically limited by 15-31-150, MCA, (2017) this credit is determined in accordance with 26 USC 41 as that section read on July 1, 1996.
- (2) For tax years beginning after December 31, 2010, no current year credit may be claimed. Only unused amounts available as a carry forward under 15-31-150, MCA, may be claimed for the 15 succeeding tax years. The credit can be claimed by including a detailed schedule of the credit carryforward when the return is filed.
Authorizing statute(s): 15-30-2620, 15-31-150, 15-31-501, MCA
Implementing statute(s): 15-30-2358, 15-31-150, MCA
History: NEW, 2005 MAR p. 164, Eff. 1/28/05; AMD, 2010 MAR p. 1209, Eff. 5/14/10; AMD, 2013 MAR p. 216, Eff. 2/15/13; AMD, 2024 MAR p. 2162, Eff. 9/7/24.