Montana taxable income definition

Montana taxable income means federal taxable income as determined for federal income tax
Sample 1Sample 2Sample 3
Montana taxable income means federal taxable income as determined for federal income tax purposes and adjusted as provided in [section 1].
Sample 1Sample 2Sample 3
Montana taxable income means federal taxable income as determined for federal income tax purposes and adjusted as provided in [section 1 of Senate Bill No. 171].
Sample 1Sample 2

Examples of Montana taxable income in a sentence

  • For example, if you deposited $500 in your account this year, but withdrew $100 to pay foreligible medical expenses this year, your remaining balance of $400 can be used to pay for future eligible medical expenses.How do contributions to my account affect my Montana taxable income?You reduce your Montana taxable income in the year you make a contribution by the lesser of the amount you contribute to the account or $3,000.

  • In the following tax year, if you don’t deposit any additional amounts in your account, but you use the remaining $400 for eligible medical expenses, your Montana taxable income will not be affected.

  • The approved design (including an element or detail of that design) or materials, finish or colour of the building must not be changed so as to affect the external appearance of the building without the approval of the City Planner.

  • If a taxpayer or a taxpayer and the taxpayer's spouse made an election on the taxpayer's federal return to defer income ratably because of a conversion from an IRA, other than a Roth IRA, to a Roth IRA pursuant to section 408A(d)(3) of the Internal Revenue Code but included all the income in the taxpayer's Montana income tax return, the sum of the balance of the federal deferred amount as of January 1, 2016, is a negative adjustment to the taxpayer's Montana taxable income.

  • If a taxpayer received a refund of federal income tax the deduction of which in a tax year beginning after December 31, 2012, resulted in a reduction of Montana income tax liability, the refund is, to the extent the deduction resulted in a reduction of Montana income tax liability, a positive adjustment to the taxpayer's Montana taxable income.

  • If a taxpayer or a taxpayer and the taxpayer's spouse made an election on the taxpayer's federal return to defer income ratably because of a conversion from an IRA, other than a Roth IRA, to a Roth IRA pursuant to section 408A(d)(3) of the Internal Revenue Code but included all the income in the taxpayer's Montana income tax return, the sum of the balance of the federal deferred amount as of January 1, 2024, is a negative adjustment to the taxpayer's Montana taxable income.

  • Notwithstanding the deduction that a taxpayer would be allowed for net operating loss carryovers and net operating loss carrybacks under section 172(a) of the Internal Revenue Code in a tax year ending after December 31, 2023, and before January 1, 2025, if the taxpayer's federal net operating loss is different from the taxpayer's Montana net operating loss as of December 31, 2023, no adjustment to the taxpayer's Montana taxable income may be made.

  • If a taxpayer received a refund of federal income tax the deduction of which in a tax year beginning after December 31, 2014, resulted in a reduction of Montana income tax liability, the refund is, to the extent the deduction resulted in a reduction of Montana income tax liability, a positive adjustment to the taxpayer's Montana taxable income.

  • If a taxpayer received a refund of federal income tax the deduction of which in a tax year beginning after December 31, 2022, resulted in a reduction of Montana income tax liability, the refund is, to the extent the deduction resulted in a reduction of Montana income tax liability, a positive adjustment to the taxpayer's Montana taxable income.

  • Nonresidents calculate their total taxable income in the same manner as residents do, but the total taxable income is then multiplied by the ratio of Montana source income to total income from all sources in order to arrive at Montana taxable income.

Related to Montana taxable income

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Distributable Income means, for any period, the net income of Centurion Apartment REIT, including income earned from its proportionate interest under the Rollover Agreement and its applicable consolidated Subsidiaries for such period set out in its consolidated financial statements as determined in accordance with GAAP, subject to certain adjustments, including: (a) adding back the following items: depreciation, amortization (except for amortization of deferred financing costs, future income tax expense, losses on dispositions of assets and amortization of any net discount on long-term debt assumed from vendors of properties at rates of interest less than fair value); and (b) deducting the following items: future income tax credits, interest on convertible debentures to the extent not already deducted in computing net income, gains on dispositions of assets and amortization of any net premium on long- term debt assumed from vendors of properties at rates of interest greater than fair value and any other adjustments determined by the Trustees in their discretion.

  • Available Income means the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

  • Taxable means either:

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • Taxable value shall have the meaning assigned to such term in Section 1.04(10) of the TEXAS TAX CODE.

  • Taxable Period means any taxable year or other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Disposable income means that part of the income due and payable of any individual remaining

  • Agreement combined tax rate means the sum of the tax rates: