Exploration Incentive Tax Credit (Montana)
Last modified on February 12, 2015.
|Applies to States or Provinces||Montana|
|Name||Exploration Incentive Tax Credit (Montana)|
|Policy Category||Financial Incentive|
|Policy Type||Personal Tax Incentives|
|Affected Technologies||Coal with CCS|
|Program Administrator||Montana Department of Revenue|
The Mineral and Coal Exploration Incentive Tax Credit provides tax incentives to entities conducting exploration for minerals and coal. Expenditures related to the following activities are eligible for tax incentives:
(a) surveying by geophysical or geochemical methods; (b) drilling exploration holes; (c) conducting underground exploration; (d) surface trenching and bulk sampling; or (e) performing other exploratory work, including aerial photographs, geological and geophysical logging, sample analysis, and metallurgical testing.
Some exceptions apply. The credit may not exceed 50% of the person's tax liability. A credit for each distinct mining operation may not exceed a total of $20 million for all exploration activities and accrues at the rate of 50% of the certified expenditures each year. The credit must be applied within 15 tax years after the taking of the credit. However, the tax year or years in which the credit is applied need not be the tax year in which the person first incurs liability for payment of tax based on the person's activity that is the basis of the claim for the credit; or consecutive tax years.
|Department||Montana Department of Revenue|
|Address||Sam W. Mitchell Bldg.|
|Address 2||125 N. Roberts, 3rd Floor|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||15-32-5 MCA|