Statutes > Montana Statutes > TITLE 15. TAXATION > CHAPTER 31. CORPORATION LICENSE OR INCOME TAX > Part 1. Corporation License Tax Rate and Return > 15-31-118. Taxable liability on termination of independent liability fund.

15-31-118. Taxable liability on termination of independent liability fund.


     15-31-118. Taxable liability on termination of independent liability fund. If an independent liability fund established pursuant to Title 33, chapter 27, is terminated as provided in 33-27-119, the income from the principal distributed pursuant to 33-27-119(3) is taxable to that person or persons under the applicable provisions of this chapter.

     History: En. Sec. 18, Ch. 564, L. 1987; amd. Sec. 2, Ch. 111, L. 2001.