Montana Form Pt-Stm - Second-Tier Pass-Through Entity Owner Statement And Waiver Request (For Tax Years 2011 And Earlier) Page 3
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4Form PT-STM General Information
entity pays this amount, the paid tax passes through the
multi-tiered structure as a refundable credit that may be
What is the purpose of this statement?
claimed by the owners who file their Montana individual
income, corporation license or other income tax returns.
When the owner of a pass-through entity (first-tier) that
has Montana source income is itself a pass-through
If the first-tier pass-through entity does not
entity (second-tier), the first-tier pass-through entity
timely pay tax due will interest and penalties be
must either include the second-tier pass-through entity
assessed?
in a composite return or pay tax on its behalf unless the
first-tier establishes that its distributive share of Montana
Yes, if tax is not paid by the original filing deadline of the
source income is fully accounted for on Montana individual
first-tier pass-through entity’s tax return, then any unpaid
income, corporation license or other income tax returns.
tax will be assessed interest and penalties until paid in full.
To establish this, the first-tier pass-through entity must be
Form PT-STM Instructions
able to identify each entity (person, corporation, estate,
trust or composite filer) to which any part of its share of the
Use the following entity type codes to complete the form:
Montana source income will pass.
● C corporation doing business in MT (C)
Who prepares this statement?
● C corporation not doing business in MT (FC)
An authorized representative of the first-tier pass-through
● Disregarded entity (DE)
entity must complete this form. It is not valid unless it is
signed and dated by an officer or other individual who is
● Estate (E)
authorized to sign on behalf of the first-tier pass-through
● Individual (I)
entity. The first-tier pass-through entity includes the
completed statement with its Montana pass-through entity
● Partnership (PS)
information return.
● Publicly Traded Partnership (PTP)
How often does the first-tier pass-through entity
● S corporation (S)
have to complete this statement?
● Trust (T)
The first-tier pass-through entity has to complete this
statement each year it does not include the second-tier
If the entity is a nonprofit organization, use entity type code
C for nonprofit organizations formed in Montana and entity
pass-through entity in a composite return or pay tax on its
type code FC for nonprofit organizations formed outside of
behalf. If the first-tier pass-through entity cannot establish
on Form PT-STM that its distributive share of Montana
Montana.
source income is fully accounted for on Montana individual,
Page 1 – Second-Tier Pass-Through Entity Owner
corporation license or other income tax returns, it does not
Statement and Waiver Request
submit the form.
The Form PT-STM is required to be filed with the first-tier
What if the first-tier pass-through entity is part of
pass-through entity’s return.
a multi-tiered structure and it cannot identify all
● First-Tier Pass-Through Entity Information Enter
owners of all higher tiers?
the name, mailing address, entity type code and federal
The first-tier pass-through entity must file a composite
employer identification number (FEIN) for the first-tier
return or pay tax on behalf of the second-tier pass-through
pass-through entity.
entity unless each and every owner to whom any share
● Second-Tier Pass-Through Entity Information
of Montana source income is passed is identified and the
Enter the name, mailing address, entity type code and
first-tier pass-through entity verifies that every owner to
federal employer identification number (FEIN) for the
which the Montana source income is distributed will file a
second-tier pass-through entity.
Montana return.
Page 2 – Pass-Through Entity Owner Information
What happens if the statement is submitted to the
(third-tier, fourth-tier, etc.)
department and an entity to which the second-
tier pass-through entity’s share of income is
● Name and Address For each owner of the second-
ultimately passed does not file a Montana tax
tier and higher tier pass-through entities (if applicable),
return and pay the applicable tax?
provide the name, mailing address, entity type code
and federal employer identification number (FEIN) or
The department will assess the first-tier pass-through entity
social security number (SSN).
for its failure to pay tax for the second-tier pass-through
entity’s distributive share of Montana source income. The
● Residency Code If the owner is an individual, estate
amount that will be assessed is 6.9% multiplied by the
or trust that is a resident owner, mark the ‘R’ box.
distributive share of the second-tier pass-through entity’s
If the owner is an individual, estate or trust that is a
Montana source income. After the first-tier pass-through
nonresident owner, mark the ‘N’ box.
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