Fillable Form Clt-4 - Montana Corporation License Tax Return

M M D D Y Y Y Y

Form CLT-4, Page 3

Period End Date

FEIN

Computation of Montana Taxable Income and Net Amount Due

1. Taxable income reported on your federal tax return (line 28) (include a copy of signed federal Form 1120) .. 1.

2. Additions

2a. State, local, foreign and franchise taxes based on income (include breakdown of

your Form 1120, line 17) .............................................................................................. 2a.

2b. Federal tax exempt interest ......................................................................................... 2b.

2c. Contributions used to compute qualiﬁ ed endowment credit .........................................2c.

2d. Income/loss of foreign parent and foreign subsidiaries for worldwide combined ﬁ lers 2d.

2e. Income/loss of unitary corporations not included in federal consolidated return ......... 2e.

2f. Premiums used to calculate the Insure Montana Credit ............................................... 2f.

2g. Deemed dividends—Water’s Edge ﬁ lers only (include Schedule WE) ........................ 2g.

2h. Income/loss of corporations incorporated in tax havens—Water’s Edge ﬁ lers only .... 2h.

2i. Federal capital loss carry-over utilized on federal return (include Schedule D) ............2i.

2j. All of your other additions (include a detailed breakdown) ............................................2j.

Add lines 2a through 2j and enter the result. This is the total of your additions. ........................................ 2.

3. Reductions

3a. IRC Section 243 dividend received deduction ............................................................. 3a.

3b. Nonbusiness income (include a detailed breakdown) ................................................. 3b.

3c. Montana recycling deduction (include Form RCYL) .....................................................3c.

3d. Income/loss of nonunitary corporations included in federal consolidated return ......... 3d.

3e. Income/loss of 80/20 companies—Water’s Edge ﬁ lers only ........................................ 3e.

3f. Capital loss incurred in current year (include federal Schedule D)............................... 3f.

3g. All of your other reductions (include a detailed breakdown) ........................................ 3g.

Add lines 3a through 3g and enter the result. This is the total of your reductions...................................... 3.

4. Add lines 1 and 2, then subtract line 3 and enter the result. This is your adjusted taxable income. .......... 4.

5. Income apportioned to Montana (multiply line 4 X

__________

% from Schedule K, line 5) ......................... 5.

Combined ﬁ lers must use the Schedule K included on page 5 of Form CLT-4.

6. Enter the income that you allocated directly to Montana (include a detailed breakdown) ............................... 6.

7. Montana taxable income before net operating loss (add lines 5 and 6 or enter amount reported on line 4) .. 7.



If line 7 is a loss, do you wish to forego the net operating loss carry-back provision?

Yes

Note: If you have reported a loss on line 7 and have not marked either box, the loss has to be carried back ﬁ rst.

8. Enter your Montana net operating loss carried over to this period (include a detailed schedule) ................... 8.

9. Subtract line 8 from line 7 and enter the result here. This is your Montana taxable income....................... 9.

10. Multiply line 9 by 6.75% (or line 9 by 7% if you have a valid Water’s Edge election). This is your Montana

tax liability. (This amount cannot be less than the minimum tax liability of $50.) ......................................... 10.



Mark this box if you are calculating your tax liability using the Alternative Tax method.

Questions? Call us toll free at (866) 859-2254 (in Helena, 444-6900), or TDD (406) 444-2830 for

hearing impaired.

*13EP0301*

Form Clt-4 - Montana Corporation License Tax Return - 2013 Page 3

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