TITLE 15. TAXATION

CHAPTER 30. INDIVIDUAL INCOME TAX

Part 21. Rate and General Provisions

Nondeductible Items In Computing Net Income

15-30-2133. Nondeductible items in computing net income. In computing net income, deductions are not allowed for:

(1) personal, living, or family expenses;

(2) any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate;

(3) any amount expended in restoring property or in making good the exhaustion of the property for which an allowance is or has been made;

(4) premiums paid on any life insurance policy covering the life of any officer or employee or of any person financially interested in any trade or business carried on by the taxpayer when the taxpayer is directly or indirectly a beneficiary under the policy; or

(5) expenses that are associated with the production of exempt or excludable income. This subsection (5) does not apply to the deductibility of federal income taxes paid on income that is excludable or exempt for Montana income tax purposes.

History: En. Sec. 9, Ch. 181, L. 1933; re-en. Sec. 2295.9, R.C.M. 1935; R.C.M. 1947, 84-4909; amd. Sec. 2, Ch. 399, L. 1995; Sec. 15-30-123, MCA 2007; redes. 15-30-2133 by Sec. 1, Ch. 147, L. 2009.