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Montana Contractor's Gross Receipts Tax Credit

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Montana Contractor's Gross Receipts Tax Credit

Answer

Contractors Gross Receipts Tax Credit

15-50-207, MCA

Eligibility: Contractors, and some sub-contractors, performing public construction work under a federal, state or local government contract

Qualifying Expenditures: An additional license fee equal to 1% of the gross receipts for government contracts is paid.

Benefit: The credit can be used to offset the tax liability of individual, corporate license or corporate income taxes.

Unused Contractors Gross Receipts Tax Credit can be carried forward for up to five subsequent tax years.


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Views: 897 Created on: Jun 15, 2013
Date updated: Oct 19, 2015
Posted in: STATES, Montana

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