1. MCA Contents
  2. TITLE 15
  3. CHAPTER 31
  4. Part 1
  5. 15-31-118 Taxable liability on termination of independent liability fund

TITLE 15. TAXATION

CHAPTER 31. CORPORATE INCOME TAX OR ALTERNATIVE CORPORATE INCOME TAX

Part 1. Corporate Income Tax Rate and Return

Taxable Liability On Termination Of Independent Liability Fund

15-31-118. Taxable liability on termination of independent liability fund. If an independent liability fund established pursuant to Title 33, chapter 27, is terminated as provided in 33-27-119, the income from the principal distributed pursuant to 33-27-119(3) is taxable to that person or persons under the applicable provisions of this chapter.

History: En. Sec. 18, Ch. 564, L. 1987; amd. Sec. 2, Ch. 111, L. 2001.