Income/Franchise:
Montana: New Law Eliminates List of Approximately 40 Tax Haven Countries and Jurisdictions
S.B. 246, signed by gov. 5/22/23. Effective immediately and applicable retroactively to tax years beginning after December 31, 2022, new law eliminates the list of approximately 40 countries/taxing jurisdictions considered “tax havens” for purposes of inclusion in the tax base of corporations electing water’s edge filing status for Montana corporate income tax purposes. The legislation also revises the definition of “United States” for water’s edge filing purposes to include not only the 50 states of the United States and the District of Columbia, but also “any territory or possession of the United States.” Please contact us with any questions.
30 Rockefeller Plaza New York, NY 10112-0015 United States
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 415,000 peopleworldwide make an impact that matters at www.deloitte.com.
