Table of Contents TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS CHAPTER 16. INHERITANCE AND ESTATE TAXES Part 3. Application and Imposition of Tax -- Exemptions and Rates -- Property Valuation

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72-16-301 — Taxable transfers general... 72-16-302 — Transfer under power of a... 72-16-303 — Joint estates -- transfer... 72-16-304 — Insurance proceeds part o... 72-16-305 — Bequests to executors or... 72-16-306 — Recording date prima faci... 72-16-307 — Tax -- when imposed 72-16-308 — Tax to be on clear market... 72-16-311 — Exemption -- how taken 72-16-312 — Exemption -- transfers fo... 72-16-313 — Exemptions of spouse and... 72-16-314 — Probate code allowances a... 72-16-315 — Discretionary waiver of i... 72-16-316 — Exemption of tangible per... 72-16-317 — Credit allowance on inher... 72-16-318 — Child's credit for tax pa... 72-16-319 — Exemption -- transfer of... 72-16-321 — Primary rates -- amount r... 72-16-322 — Other rates -- amount rem... 72-16-331 — Definitions for alternate... 72-16-332 — Property acquired from de... 72-16-333 — Alternate valuation of ce... 72-16-334 — Election of alternate val... 72-16-335 — Valuation of farms 72-16-336 — Valuation of closely held... 72-16-337 — Application to certain bu... 72-16-338 — Disposition or failure to... 72-16-339 — When cessation of qualifi... 72-16-340 — Notice to heir of additio... 72-16-341 — Involuntary conversion of... 72-16-342 — Time limitations on asses... 72-16-343 — Special rules for survivi... 72-16-344 — Decedents who are retired... 72-16-345 — Active management by elig... 72-16-346 — No tax if use begins with... 72-16-347 — Special rule for disposit... 72-16-348 — Exchanges of qualified re... 72-16-349 — Treatment of replacement...

Mont. Code Ann. § 72-16-345

(1995)

Active management by eligible qualified heir treated as material participation

(1) For purposes of 72-16-339, the active management of a farm or other business by an eligible qualified heir or a fiduciary of an eligible qualified heir must be treated as a material participation by the eligible qualified heir in the operation of the farm or business.

(2) In the case of an eligible qualified heir, subsection (1) applies only during periods during which the heir continues to be an eligible qualified heir.

Official Annotations archive.org, 1995 edition

History:

EnactedEn. SectionSec. 19, ChapterCh. 511, Laws ofL. 1983

Source text on leg.mt.gov