Income/Franchise:
Montana DOR Reminds Corporate Taxpayers that List of “Tax Haven” Jurisdictions Has Been Eliminated
Legislative Updates For Corporations – Tax News You Can Use, Mont. Dept. of Rev. (2/14/24). The Montana Department of Revenue reminds taxpayers that pursuant to state corporate income tax legislation enacted last year [see S.B. 246 (2023) and State Tax Matters, Issue 2023-21, for more details on this new law] which removed “tax haven” corporations from the water’s-edge group of affiliated corporations effective for tax periods beginning after December 31, 2022, C corporations in a unitary relationship with a taxpayer incorporated in a previously designated tax haven no longer need to have their income and apportionment factors included in the water’s-edge combined filing group. Please contact us with any questions.
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