15-30-3327: Making pass-through entity tax election.

(1) The election must be made annually no later than the due date, including extensions, of the pass-through entity's tax return as prescribed by 15-30-3302. The election for a tax year is irrevocable for the year it is made.

(2) The pass-through entity must designate a Montana pass-through entity representative who is authorized to make the election to subject the pass-through entity to the tax provided for in 15-30-3325 through 15-30-3328.

(a) The Montana pass-through entity representative acts on behalf of the pass-through entity for the applicable tax year.

(b) With respect to an action required or permitted to be taken by a pass-through entity under 15-30-3325 through 15-30-3328 and a proceeding under 15-1-211 with respect to the action, the Montana pass-through entity representative for the tax year has the sole authority to act on behalf of the pass-through entity, and the pass-through entity's direct owners and indirect owners are bound by those actions.

(c) The department may establish reasonable qualifications and procedures for designating a person to be the Montana pass-through entity representative.

(3) Nothing in this section prevents a pass-through entity that does not have business activity in the state during the tax year but that does have resident owners from electing to pay the entity tax.