Rule 42.30.107 - FIDUCIARY - INTEREST AND PENALTIES(1) If a fiduciary is required to file a return other than a Montana Income Tax Return for Estates and Trusts (Form FID-3), then the interest and penalties that are calculated on the applicable tax return will apply to the fiduciary's filing of the same return. For example, if the fiduciary is required to file a Montana Corporate Income Tax Return (Form CIT) for a trust, then any interest and penalties that the fiduciary would be liable for will be calculated as though the trust was a corporation.(2) If a fiduciary is required to file Form FID-3: (a) late payment penalties and late filing penalties will be applied as provided in 15-1-216, MCA;(b) for tax periods beginning before January 1, 2017:(i) interest on unpaid tax will accrue from the original due date of the return as provided in 15-1-216, MCA, unless the current year's tax liability is $200 or less and the entire tax liability is paid by the extended due date; and(ii) underpayment interest, as provided in 15-30-2512, MCA, will accrue from the original due date of the return unless the tax liability is $200 or less and the entire tax liability is paid by the extended due date; or(c) for tax periods beginning on or after January 1, 2017:(i) interest on unpaid tax will accrue from the original due date of the return as provided in 15-1-216, MCA; and(ii) underpayment interest, as provided in 15-30-2512, MCA, will accrue from the original due date of the return.(3) Fiduciaries that are required to file Form FID-3 are subject to underpayment interest as provided in 15-30-2512, MCA. (4) Fiduciaries that are required to file Form FID-3 are required to make estimated tax payments as provided in 15-30-2512, MCA.Mont. Admin. r. 42.30.107
NEW, 2016 MAR p. 22, Eff. 1/9/2016; AMD, 2016 MAR p. 2073, Eff. 11/10/2016; AMD, 2016 MAR p. 2205, Eff. 11/26/2016AUTH: 15-1-201, 15-30-2104, MCA; IMP: 15-1-216, 15-30-2512, 15-30-2604, MCA