What happens if I miss Montana's business equipment reporting deadline?
A 20 percent penalty. Owners whose equipment has a statewide aggregate market value of $1 million or more as of January 1 must report it to the Department of Revenue by February 15, through the TransAction Portal, where the form comes pre-filled with the prior year's equipment. Businesses at or under $1 million are exempt and generally do not file unless they have acquired equipment that could push them over the line or the department asks. Our reports support the market value you enter for additions.
Who sets the valuation date in a Montana divorce?
The court. Montana is an equitable distribution state, not a community property state: the statute tells the court to apportion the parties' property equitably, without regard to marital misconduct, and it fixes no valuation date. That flexibility is why a current appraisal of vehicles, collections, equipment, or a business interest, prepared to the date counsel or the court chooses, matters as the hearing approaches.