Form Pira - Purchase Incentive Rental Agreement Reporting Form
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MONTANA
PIRA
New 05-09
Purchase Incentive Rental Agreement Reporting Form
A new law (formerly HB 487, sponsored by Representative Walt McNutt) changes the definition of exempt business
inventory to include certain farm machinery and construction equipment that is held pursuant to a purchase incentive
rental program. It’s effective for the 2009 tax year.
Dealer Name ____________________________________________________________ FEIN _____________________
Address __________________________________________
________________________
_____
_____________
Street
City
State
Zip Code
Contact Name ____________________________________________________ Phone ___________________________
Each calendar quarter for which a farm implement and/or construction
Quarter ending date Report due date
equipment dealership has qualifying equipment they must report it to their local
March 31
April 15
Department of Revenue office on this form by the report due date (see the
schedule at right). Contact information for local DOR offices is available on-line
June 30
July 15
at
September 30
October 15
Quarter ending date ___________________________________
December 31
January 15
Rental
Equipment
Year
County/Location
Rental
Make/Model
begin
Renter
Description
New
of equipment
end date
date
To qualify for this exemption, the farm implement or construction equipment must be:
owned by a farm implement or construction equipment dealership,
held for sale, and
rented to a single user of the farm implement or construction equipment as an incentive for the purchase of the
property.
A farm implement or item of construction equipment that is brought into the state under a purchase incentive rental
program and meets the qualifications becomes taxable only if it is sold or otherwise disposed of in Montana.
A farm implement or item of construction equipment does not qualify for this exemption if:
it is rented to a person for more than 9 months,
it is rented more than once to the same person, or
it is not owned by a farm implement or construction equipment dealership.
The status of personal property on January 1 (whether taxable or exempt) is the status for the entire year.
Additional forms are available at your local Department of Revenue office or online at
As part of its audit responsibility, the department may occasionally request a copy of specific purchase rental program
agreements from dealers.
Questions? Call toll free (866) 859-2254 (in Helena, 444-6900) or TDD (406) 444-2830 for hearing impaired.
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