House Bill No. 274

Introduced By _______________________________________________________________________________



A Bill for an Act entitled: "An Act eliminating certain nuisance taxes by eliminating the $10 filing fees for small business corporations and repealing the license tax on sales of cement and byproducts; amending section 15-31-202, MCA; repealing sections 15-31-204, 15-59-201, 15-59-203, 15-59-204, 15-59-205, 15-59-206, 15-59-207, 15-59-208, 15-59-209, 15-59-210, 15-59-212, 15-59-213, 15-59-214, and 15-59-221, MCA; and providing an effective date and applicability dates."



Be it enacted by the Legislature of the State of Montana:



Section 1.  Section 15-31-202, MCA, is amended to read:

"15-31-202.   Small business corporation not subject to chapter. (1) A small business corporation is not subject to the taxes imposed by this chapter. The corporate net income or loss of the corporation is included in the stockholders' adjusted gross income as defined in 15-30-111.

(2)  Each small business corporation is required to pay the minimum fee of $10 required by 15-31-204."



NEW SECTION. Section 2.  Repealer. (1) Section 15-31-204, MCA, is repealed.

(2) Sections 15-59-201, 15-59-203, 15-59-204, 15-59-205, 15-59-206, 15-59-207, 15-59-208, 15-59-209, 15-59-210, 15-59-212, 15-59-213, 15-59-214, and 15-59-221, MCA, are repealed.



NEW SECTION. Section 3.  Effective date. [This act] is effective July 1, 1997.



NEW SECTION. Section 4.  Applicability. (1) [Sections 1 and 2(1)] apply retroactively, with the meaning of 1-2-109, to tax periods beginning after December 31, 1996.

(2) [Section 2(2)] applies to tax periods beginning after June 30, 1997.

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