MINE-CRED Mineral and Coal Exploration Incentive Credit (2019)

Description

You may use this form to claim the mineral and coal exploration credit.

Eligibility

Individuals, corporations, partnerships, small business corporations or limited liability companies engaged in mineral exploration in Montana

Qualifying Expenditures

The cost of determining the existence, location, extent or quality of a mineral or coal deposit. The credit is available for both new mines and mines being reopened.

The Department of Revenue must certify the expenditures before you can qualify for the credit.

Benefit

Up to 50% of the tax liabilities for the tax year related to production from the mining operation where the exploration activities occurred.

Carry Over

Unused credit can be carried forward up to 15 years.

Related Laws

15-32-501 through 15-32-509, MCA