A partnership is the relationship between two or more people who carry on a trade or business. Each partner contributes money, property, labor or skill, and expects to share in the business's profits or losses.
Partnerships in Montana must file an annual Montana Pass-Through Entity Tax Return (Form PTE).
Montana partnership returns are due at the same time as the federal Form 1065, U.S. Return of Partnership Income:
If a due date falls on a weekend or holiday, it is due on the next business day.
Pass-through entity tax, pass-through withholding and composite taxes are due on original due date of the partnership return.
Montana grants all partnerships an automatic six-month extension to file a return. This means returns filed on extension are due:
Extension deadlines are for returns only.
Any tax liability must still be paid by the original due date or it will be subject to penalties and interest.
Publicly traded partnerships do not need to include owners in a composite income tax return or pay tax on their behalf.
To qualify, a partnership needs to be defined as a publicly traded partnership under section 7704(b) of the Internal Revenue code.
Publicly traded partnerships need to send an approved electronic file with each qualified partner's:
A qualified partner:
The file is due by the due date of the Publicly Traded Partnership's return and must be in an electronic format that is exportable and sortable on a compact disc or flash drive. Label the disc or flash drive with the entity's name and Federal Employer ID Number and include contact information for a company representative.
If the file is password protected, send the password in a separate envelope to the same address. The password must also be labeled with the entity's Name and Federal Employer ID number and include contact information for a company representative.
Mail the file to:
Montana Department of Revenue
ATTN: Pass-Through Unit
P.O. Box 5805
Helena, MT 59604-5805