Bill > SB65

This bill revises the statute of limitations for income tax refunds and credits in Montana. The key provisions of the bill are: 1. It extends the time period for claiming a refund or credit from 1 year after the overpayment or filing to 1 year after the time the tax was paid, or the expiration of the standard 3-year period, whichever is later. 2. It allows taxpayers to file a claim for refund or credit up to 1 year after the due date of a federal adjustments report, which is required to be filed with the state when there are changes to a federal tax return. 3. It provides conformity with the Internal Revenue Code regarding the statute of limitations for net operating loss carrybacks and other federal tax adjustments. 4. The bill is effective October 1, 2023 and applies to claims for refund or credit received by the Department of Revenue on or after that date.

Budget and Finance

https://laws.leg.mt.gov/legprd/LAW0210W$BSIV.ActionQuery?P_BILL_NO1=65&P_BLTP_BILL_TYP_CD=SB&Z_ACTION=Find&P_SESS=20231