{"id":11290,"date":"2022-12-22T00:06:41","date_gmt":"2022-12-22T00:06:41","guid":{"rendered":"https:\/\/taxops.com\/?p=11290"},"modified":"2022-12-27T18:55:57","modified_gmt":"2022-12-27T18:55:57","slug":"waters-edge-election-changes-in-montana","status":"publish","type":"post","link":"https:\/\/taxops.com\/waters-edge-election-changes-in-montana\/","title":{"rendered":"Water&#8217;s Edge Election Changes in Montana"},"content":{"rendered":"\n<div style=\"height:37px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-1024x536.png\" alt=\"\" class=\"wp-image-11294 lazyload\" data-srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-1024x536.png 1024w, https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-980x513.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-480x251.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><noscript><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-1024x536.png\" alt=\"\" class=\"wp-image-11294 lazyload\" srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-1024x536.png 1024w, https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-980x513.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes-480x251.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/noscript><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>The Montana Department of Revenue (MDOR) has changed their water\u2019s edge election process<\/em>, <em>making the election to cover calendar years 2023, 2024, and 2025 due by March 30, 2023<\/em>.<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">By <a href=\"https:\/\/taxops.com\/judith-vorndran\/\" target=\"_blank\" rel=\"noopener\" title=\"Judy Vorndran\">Stacey Roberts<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Montana Department of Revenue (MDOR) has changed their water\u2019s edge election process. For those unfamiliar with the Montana water\u2019s edge election, it is fairly unique in that it is a three year binding election that is separate from the filing of the combined corporate income tax return. Thus, it cannot be made on an originally filed return like most other states and the election must be approved by the MDOR in advance of filing the combined corporate income tax return. If an election is not timely filed or not approved, the combined corporate income tax return must be filed under the worldwide combined method.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of December 1, 2022, filers must request water\u2019s edge election electronically, using the state\u2019s TransAction Portal (TAP).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MDOR issued the following help to get started:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Access TAP at <a href=\"http:\/\/tap.dor.mt.gov\" title=\"TAP\">http:\/\/tap.dor.mt.gov<\/a><\/li>\n\n\n\n<li>Under \u201cBusiness\u201d section, select \u201cView More Options\u201d<\/li>\n\n\n\n<li>Then select \u201cSubmit a Water\u2019s Edge Election\u201d<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Filers do not need to create an account to complete this request. The request must be made within the first 90 days of the first period of the three-year period in which the election is to be effective (ARM 42.26.302). Thus, the election to cover calendar years 2023, 2024, and 2025 would be due by March 30, 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Filers may no longer submit Form WE-ELECT via mail, email or fax. Only TransAction Portal submission will be accepted.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Is the water\u2019s edge election right for your company in Montana? Contact your <a href=\"https:\/\/taxops.com\/contact\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TaxOps advisor<\/a> for guidance.<\/p>\n\n\n\n<div style=\"height:59px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">More Tax News<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/auditor-independence-in-the-age-of-private-equity\/\">Auditor Independence in the Age of Private Equity: What CFOs Need to Know<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/r-d-credits-for-software-companies\/\">R&amp;D Credits for Software Companies: Scrum Teams, Qualifiers, and Section 174 After OBBBA<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/section-174-decoupling-what-tax-pros-need-to-know-state-by-state\/\">Section 174 Decoupling: What Tax Pros Need To Know State By State<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/sean-espy-new-partner\/\">TaxOps Welcomes Sean Espy as Partner, Tax Minimization<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/state-nexus-demystified-navigating-tax-compliance-after-wayfair-episode-1-2\/\">Your Tax Footprint Is Probably Bigger Than You Think: What Finance Leaders Need to Know About State Nexus<\/a><\/li>\n<\/ul>\n\n\n<div style=\"height:59px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/taxops.com\/contact\/#subscribe\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe to Tax News<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Montana Department of Revenue (MDOR) has changed their water\u2019s edge election process, making the election to cover calendar years 2023, 2024, and 2025 due by March 30, 2023. By Stacey Roberts The Montana Department of Revenue (MDOR) has changed their water\u2019s edge election process. For those unfamiliar with the Montana water\u2019s edge election, it [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":11294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","spt_transcript":"","footnotes":""},"categories":[229,226],"tags":[825,782,388,133,781,823,54,778,126,459,27,265,70,487,824,48,822,49,50,563,783,30,751,620],"class_list":["post-11290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state-and-local","category-tax-news","tag-825","tag-accounting-professional","tag-accounting-professionals","tag-accounting-today","tag-aicpa","tag-amortization","tag-award","tag-capitalization","tag-cpa","tag-expenses","tag-federal-tax","tag-finance-professional","tag-hiring","tag-job","tag-law","tag-rd","tag-rd-expenses","tag-research-and-development","tag-research-credit","tag-research-expenses","tag-section-174","tag-state-and-local-tax","tag-tax-optimization","tag-tax-professionals"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/taxops.com\/wp-content\/uploads\/2022\/12\/Montana-Waters-Edge-Election-Changes.png","_links":{"self":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/11290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/comments?post=11290"}],"version-history":[{"count":3,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/11290\/revisions"}],"predecessor-version":[{"id":11295,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/11290\/revisions\/11295"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media\/11294"}],"wp:attachment":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media?parent=11290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/categories?post=11290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/tags?post=11290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}