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Blank Montana Pr 1 Form

The Montana Pr 1 form is a tax document used by partnerships to report their income and deductions for state tax purposes. This form is crucial for partnerships with over 100 partners, as they are required to file electronically. Understanding the details of the Montana Pr 1 form can help ensure compliance and accurate reporting of partnership income.

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The Montana PR-1 form serves as a crucial document for partnerships operating within the state, particularly for those with more than 100 partners, as they are mandated to e-file. This form is designed to capture essential financial information about the partnership, including income, deductions, and tax liabilities, allowing for accurate reporting to the Montana Department of Revenue. Key components of the PR-1 include a requirement to attach a complete copy of federal Form 1065, along with all related schedules and forms. The form provides sections for detailing the partnership's income sources, such as ordinary business income, rental income, and capital gains, as well as deductions that can be claimed. Additionally, it requires partnerships to report their Montana-specific additions and deductions, ensuring compliance with state tax laws. The PR-1 also incorporates a calculation of any tax owed or refunds due, making it a comprehensive tool for managing partnership tax obligations in Montana. Understanding the intricacies of this form can greatly aid partnerships in navigating their tax responsibilities effectively.

Common mistakes

Failing to mark the correct return type. Make sure to indicate whether it is an initial, final, amended, or refund return.
Not including a complete copy of federal Form 1065. This form must accompany the Montana PR-1 form along with all related schedules.
Incorrectly reporting the number of partners. Ensure you accurately count resident, nonresident, and other types of partners.
Omitting the FEIN (Federal Employer Identification Number). This number is essential for proper identification of the partnership.
Neglecting to include detailed statements for deductions or other income items. Each entry must be supported by appropriate documentation.
Failing to calculate Montana additions and deductions correctly. Review the calculations for accuracy before submitting the form.
Not providing the correct apportionment factors. These must be calculated based on the partnership's income and property in Montana.
Forgetting to sign and date the form. An unsigned form will be considered incomplete and may delay processing.

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Dos and Don'ts

When filling out the Montana PR-1 form, it is crucial to follow certain guidelines to ensure accuracy and compliance. Here are five things you should do, as well as five things you should avoid.

Do include a complete copy of federal Form 1065. This is essential for your submission to be processed correctly.
Do mark all applicable boxes. Indicate whether this is an initial, final, amended, or refund return.
Do double-check the FEIN. Make sure the Federal Employer Identification Number is correct to avoid delays.
Do provide detailed statements for deductions. If you have deductions, include any necessary supporting documents.
Do ensure all partners’ information is accurate. This includes names, addresses, and the number of partners.

Don't forget to sign the form. An unsigned form may be considered incomplete and could lead to rejection.
Don't leave any sections blank. If a section does not apply, write "N/A" instead of leaving it empty.
Don't use outdated forms. Always use the most current version of the PR-1 form to avoid complications.
Don't neglect to check the filing deadline. Ensure you submit the form on time to avoid penalties.
Don't submit without a review. Have someone else look over the form for errors or omissions before sending it in.

Similar forms

The Montana PR-1 form shares similarities with the IRS Form 1065, which is the U.S. Return of Partnership Income. Both forms require partnerships to report their income, deductions, and credits. The information reported on Form 1065 is critical for the preparation of the Montana PR-1, as it includes the federal partnership details that must be included with the state return. Each partner's share of income and deductions is calculated on Form 1065, which is then reflected in the Montana PR-1, ensuring consistency in reporting across federal and state levels.

For those looking to buy or sell a vehicle in California, understanding the intricacies of the process is vital. The standard vehicle purchase agreement form ensures that both parties are clear on the transaction terms, protecting their respective interests throughout the sale.

Another similar document is the Montana Schedule K-1, which details each partner's share of income, deductions, and credits from the partnership. This schedule is crucial for individual partners as it provides the information needed for their personal tax returns. Like the PR-1 form, the Schedule K-1 aligns with the federal Form 1065, ensuring that the income and deductions reported by the partnership flow through to the individual partners accurately. This connection between the two documents helps maintain transparency and consistency in tax reporting.

The IRS Form 1120-S, which is the U.S. Income Tax Return for an S Corporation, also bears similarities to the Montana PR-1 form. Both documents require the reporting of income, deductions, and credits for entities that pass income through to their owners. While the PR-1 is specific to partnerships, the Form 1120-S serves a similar purpose for S Corporations, allowing for the distribution of income to shareholders. The structure of reporting on both forms is similar, focusing on the flow-through nature of income taxation.

Lastly, the Montana Composite Income Tax Schedule is akin to the PR-1 form in its purpose of aggregating tax liabilities for partnerships with nonresident partners. This schedule allows partnerships to file a composite return on behalf of their nonresident partners, simplifying the tax process for those individuals. Both the PR-1 and the Composite Income Tax Schedule emphasize the need for accurate reporting of income and tax liabilities, ensuring that partnerships fulfill their tax obligations while providing clarity to partners regarding their respective shares.

Instructions on How to Fill Out Montana Pr 1

Completing the Montana PR-1 form requires careful attention to detail. This form is essential for partnerships operating in Montana and involves reporting various financial details. Before starting, ensure you have all necessary documentation, including federal Form 1065 and related schedules. Follow these steps to accurately fill out the form.

Begin by marking the appropriate boxes for the type of return: Initial, Final, Amended, or Refund.
Fill in the Partnership Name, Mailing Address, City, State, and Zip Code. Ensure all information is current and accurate.
Enter the Federal Employer Identification Number (FEIN).
Indicate the number of Schedules K-1 included for Resident Partners, Nonresident Partners, and Other Types of Partners.
Provide the Date Registered in Montana in MM/DD/YYYY format.
Input the Montana Secretary of State ID number and the date the partnership was formed in MM/DD/YYYY format.
Include the Federal Business Code/NAICS.
Report the Partners’ Distributive Share of Income Items from Form 1065, Schedule K, including Ordinary Business Income, Rental Income, Interest Income, and other relevant categories. Sum these amounts and enter the total.
Fill in the Partners’ Distributive Share of Deduction Items, including Section 179 deductions and other deductions. Calculate the total and enter it.
Subtract the total deductions from the total income to determine federal income from all sources.
Report any Montana Additions and Deductions to Income. Provide detailed statements where necessary and calculate the totals.
Determine the Apportioned and Allocated Montana Source Income, following the instructions provided.
Complete the Calculation of Amount Owed or Refund section, including any withholding payments and return payments.
If applicable, fill in the Direct Deposit information for refunds, selecting the type of account (Checking or Savings).
Sign and date the form, including the printed name and title of the officer. If a preparer is involved, include their details as well.

After completing these steps, review the form for accuracy before submission. Ensure that all required documents are attached, and submit the form according to the guidelines provided by the Montana Department of Revenue. If you have questions or need assistance, consider reaching out to a tax professional.

Documents used along the form

The Montana PR-1 form serves as a vital document for partnerships operating in the state, detailing their income and tax obligations. In conjunction with this form, several other documents are commonly utilized to ensure compliance with state tax regulations. Each of these documents plays a specific role in the reporting and calculation processes associated with partnership taxation in Montana.

Federal Form 1065: This form is essential for partnerships as it reports income, deductions, gains, and losses from the partnership's operations. It serves as the foundation for the Montana PR-1, providing necessary federal details that inform state tax calculations.
Schedule K-1: Each partner receives a K-1 form, which outlines their share of the partnership's income, deductions, and credits. This document is crucial for partners when filing their individual tax returns, as it details their specific tax obligations derived from the partnership.
Montana Schedule IV: This schedule calculates the composite income tax for eligible participating partners. It aggregates the tax liabilities based on the income reported and helps determine the total tax due from the partnership.
Montana Schedule I: This schedule is used to report apportionment factors for multistate partnerships. It helps determine how much of the partnership's income is subject to Montana taxation based on property, payroll, and gross receipts.
Montana Tax Credit Forms: Various tax credit forms, such as the College Contribution Credit or the Historic Property Preservation Credit, may accompany the PR-1 form. These documents allow partnerships to claim eligible credits, reducing their overall tax liability.
California Articles of Incorporation: This document is crucial for any corporation looking to officially register with the state of California. For more information, visit https://onlinelawdocs.com/california-articles-of-incorporation.
Form RCYL (Recycle Credit): This specific form is used to claim credits for recycling efforts. Partnerships engaged in recycling activities can utilize this form to potentially lower their tax burden.

In summary, the Montana PR-1 form interacts with several other forms and schedules that together create a comprehensive picture of a partnership's tax responsibilities. Each document serves a unique purpose, ensuring that partnerships comply with both federal and state tax laws while maximizing their potential tax benefits.

Misconceptions

1. E-filing is optional for all partnerships. Many believe that e-filing is optional for partnerships. However, partnerships with more than 100 partners are required to e-file the Montana PR 1 form.

2. The form does not require federal forms. Some think the PR 1 form can be submitted without including federal documentation. In fact, a complete copy of federal Form 1065 and all related forms and schedules must accompany the PR 1 form.

3. Only resident partners are reported. It's a common misconception that only resident partners need to be reported. Both resident and nonresident partners must be included in the form.

4. The form is only for calendar year filers. Many assume the PR 1 form is only for calendar year filers. It can also be used for tax years beginning on any date, not just January 1.

5. All partners must be included on the form. Some believe that all partners must be listed on the PR 1 form. However, only eligible participating partners need to be reported.

6. There are no penalties for late filing. Many think that there are no consequences for late submissions. In reality, late filing can result in penalties and interest charges.

7. The form does not require a signature. Some individuals believe they can submit the form without a signature. A signature from an officer is mandatory to validate the submission.

8. All deductions are automatically accepted. It's a misconception that all deductions claimed will be accepted without scrutiny. Each deduction must be properly documented and justified.

9. The PR 1 form is the only form needed for partnerships. Many think that submitting the PR 1 form is sufficient for all partnership tax obligations. In fact, additional forms may be required depending on the partnership’s activities.

10. Refunds are processed immediately. Some expect refunds to be processed right after filing. Refund processing can take time and is not immediate, depending on various factors.

Example - Montana Pr 1 Form

Form PR-1	Important! Partnerships with more than 100 partners are required to e-file this form.	P
No	2018 Montana Partnership Information and Composite Tax Return
No
Staples	Include a complete copy of federal Form 1065 and all related forms and schedules.

For calendar year 2018 or tax year beginning

MMDD 2 0 1 8

and ending

M MD DYYYY

Mark all that apply:

Initial return Final return Amended return Refund return

PTP

Name

Mailing Address

City	State Zip Code + 4

FEIN

Enter number of:

Schedules K-1 Included

Resident Partners

Nonresident Partners

Other Types of Partners

Date Registered in Montana

MT Secretary of State ID #

State formed in

Federal Business Code/NAICS

Partners’ Distributive Share of Income Items (Form 1065, Schedule K)
1.	Ordinary business income (loss)			1.
2.	Net rental real estate income (loss) (include federal Form 8825)			2.
3a.	Other gross rental income (loss)		3a.	00
b.	Expenses from other rental activities (include detailed statement)		3b.	00
c.	Subtract line 3b from line 3a. This is your other net rental income or loss			3c.
4.	Guaranteed payments			4.
5.	Interest income			5.
6.	Ordinary dividends			6.
7.	Royalties			7.
8.	Net short-term capital gain (loss) (include federal Schedule D, Form 1065)			8.
9.	Net long-term capital gain (loss) (include federal Schedule D, Form 1065)			9.
10.	Net section 1231 gain (loss) (include federal Form 4797)			10.
11.	Other income (loss) (include detailed statement)			11.
12.	Add lines 1 through 11 and enter result. This is your total federal income or loss			12.
Partners’ Distributive Share of Deduction Items (Form 1065, Schedule K)
13a.	Section 179 deduction (include federal Form 4562)			13a.
b.	Contributions			13b.
c.	Investment interest expense			13c.
d.	Section 59(e)(2) expenditures (include detailed statement)			13d.
e.	Other deductions (include detailed statement)			13e.
14.	Add lines 13a through 13e and enter result. This is your total federal deductions			14.
15.	Subtract line 14 from line 12. This is your federal income from all sources			15.
Partners’ Distributive Share of Montana Additions and Deductions to Income
16a.	Interest and dividends not taxable under the Internal Revenue Code		16a.	00
b.	Taxes based on income or profits		16b.	00
c.	Other additions (include detailed statement)		16c.	00
	Add lines 16a, 16b, and 16c; enter result. This is your total Montana additions to income			16.
17a.	Interest on U.S. government obligations (include detailed statement)		17a.	00
b.	Deduction for purchasing recycled material (include Form RCYL)....		17b.	00
c.	Other deductions (include detailed statement)		17c.	00
d.	Nonapportionable income/(loss) (include detailed statement)		17d.	00
	Add lines 17a through 17d; enter result. This is your total Montana deductions to income			17.
18.	Add lines 15 and 16, then subtract line 17 from that result			18.
Apportioned and Allocated Montana Source Income		Schedule I Not Required (see instructions)
19.	Income apportioned to Montana. Multiply line 18x		% (see instructions)	19.
20.	Income or loss allocated directly to Montana (see instructions)	........................................................		20.
21.	Add lines 19 and 20; enter result. This is your total Montana source income			21.

Office Use Only Date Received

*18DY0101*

Form PR-1, Page 2 - 2018		FEIN
Calculation of Amount Owed or Refund
22.	Enter your Montana total composite tax from Schedule IV, column H	...............................................	22.
23.	Enter the sum of pass-through withholding from all Montana Schedules K-1, part 5, line 2a		23.
Withholding
24 a. Total Montana mineral royalty tax withheld on your behalf (see instructions) 24a.			00
	b. Mineral royalty tax withheld distributed to partners	24b.	00
	c. Subtract 24b from 24a. Montana mineral royalty tax withheld attributable to partnership		24c.
25 a. Total Montana pass-through withholding paid on your behalf (see instructions)..25a.			00
	b. Montana pass-through withholding distributed to partners	25b.	00
	c. Subtract line 25b from 25a. Montana pass-through withholding attributable to partnership		25c.
26.	Add lines 24c and 25c. This is the total withholding payments attributable to partnership		26.

Return Payments

27 a.	2017 overpayment applied to 2018	27a.	00
b.	2018 estimated payments	27b.	00
c.	2018 extension payment	27c.	00
d.	For amended returns only—payments made with original return	27d.	00
e.	For amended returns only—previously issued refunds (see instructions) 27e.		00
f.	Add lines 27a through 27d, then subtract line 27e. This is your total return payments		27f.
28. Add lines 22 and 23, then subtract lines 26 and 27f. This is your amount due or (overpaid)			28.
Penalties and Interest (see instructions)
29 a. Partnership information return late filing penalty		29a.	00
b. Interest on underpayment of estimated composite tax		29b.	00
c. Composite income tax return late filing penalty		29c.	00
d. Late payment penalty		29d.	00
e. Interest		29e.	00
f.	Add lines 29a through 29e. This is your total penalties and interest		29f.
Amount Owed or Refund
30. Add lines 28 and 29f			30.
31. If line 30 results in an amount due, enter it here. This is the amount you owe			31.

Pay online at revenue.mt.gov. If writing a check, make it payable to MONTANA DEPARTMENT OF REVENUE.

32.If line 30 results in an overpayment, enter it here. This is your overpayment. Enter as a positive number. 32.

33.Enter the amount from line 32 that you want applied to your 2019 composite

.............................................................................................estimated tax	33.		00
34. Subtract line 33 from line 32 and enter the amount here. This is your refund		.................................	34.

Direct Deposit

1. RTN#

2. ACCT#

Your Refund

Complete 1, 2, 3 and 4

If using direct deposit, you are required to mark one box. ►

Checking

Savings

(see instructions).

Is this refund going to an account that is located outside of the

United States or its territories?

Yes

Under penalties of false swearing, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.

Signature of Officer

Date

Printed Name and Title

Telephone Number

X ____________________________________________

Print/Type Preparer’s Name

Firm’s Name

Preparer’s SignatureDate

____________________________________	M M D D Y Y Y Y
Firm’s Address	Telephone Number

PTIN

Firm’s FEIN

May the DOR discuss this tax return with your tax preparer? Yes No

*18DY0201*

Form PR-1, Page 3 - 2018FEIN

Schedule I - Apportionment Factors for Multistate Partnerships

Enter amounts in columns A and B. Enter percentages in column C.

A. Everywhere

B. Montana.

C. Factor

1.Property Factor: Use average value for real and tangible personal property.

1a.	.............................................................................................Land				00			00
1b.	......................................................................................Buildings				00			00
....................................................................................1c. Machinery					00			00
1d.	Equipment	1d.			00			00
1e.	...................................................................Furniture and fixtures				00			00
1f.	.........................................................Leases and leased property				00			00
1g.	...................................................................................Inventories				00			00
1h.	........................................................................Depletable assets				00			00
1i.	........................................................................Supplies and other				00			00
..................1j. Property of foreign subs included in combined group					00			00
....1k. Property of unconsolidated subs included in combined group					00			00
1l.	.....Property of pass-through entities included in combined group				00			00
............................1m.Multiply amount of rents by 8 and enter result		1m.			00			00
....................................Total Property Value add lines 1a through 1m					00			00
Divide the total in column B by the total in column A. Multiply the result			by 100. This is your		property	factor	1.
2. Payroll Factor:
2a.	.............................................................Compensation of officers				00			00
2b.	.....................................................................Salaries and wages				00			00
	Payroll included in:
2c.	.....................................................................Costs of goods sold				00			00
2d.	..................................................Other expenses and deductions				00			00
2e.	....................Payroll of foreign subs included in combined group				00			00
2f.	........Payroll of unconsolidated subs included in combined group				00			00
2g.	......Payroll of pass-through entities included in combined group				00			00
........................................Total Payroll Value add lines 2a through 2g					00			00
Divide the total in column B by the total in column A. Multiply the result			by 100. This is your payroll			factor	2.
3. Gross Receipts Factor:
3a.	.............................Gross Receipts, less returns and allowances	3a.			00
3b.	Receipts delivered or shipped to Montana purchasers:
	.................................................................................(1) Shipped from outside Montana			3b.(1)				00
	...................................................................................(2) Shipped from within Montana			3b.(2)				00
3c. Receipts shipped from Montana to:
	........................................................................................(1) United States government			3c.(1)				00
	..........................................(2) Purchasers in a state where the taxpayer is not taxable							00
3d.	......................Receipts other than receipts of tangible personal property (e.g. service income)				3d.			00
3e.	........Net gains reported on federal Schedule D and Form 4797	3e.			00			00
3f.	....................Other gross receipts (rents, royalties, interest, etc.)				00			00
3g.	................Receipts of foreign subs included in combined group	3g.			00			00
3h.	...Receipts of unconsolidated subs included in combined group	3h.			00			00
3i. Receipts (pro-rata share) of pass-through entities
	. ................................................included in combined group				00			00
3j.	............................................Less: All intercompany transactions				00			00
......................................Total Receipts Value add lines 3a through 3j					00			00
Divide the total in column B by the total in column A. Multiply the result			by 100. This is your receipts			factor	3.
.................................................4. Add the percentages on lines 1, 2, and 3 in column C. This is the sum of your factors							4.

5.Divide the percentage on line 4 by the number of factors included in the calculation of line 4. If a property,payroll

or receipts factor is 0%, it is included in the calculation of line 4 if there’s is a value in column A (see instructions).
Enter the result here and also on page 1, line 19 of this form. This is your apportionment factor	5.

*18DY0301*

Form PR-1, Page 4 - 2018FEIN

	Schedule II - Montana Partnership Tax Credits

Type of Credit	Amount of Credit

Dependent Care Assistance Credit

include Form DCAC

College Contribution Credit

include Form CC

Health Insurance for Uninsured Montanans Credit

include Form HI

Recycle Credit

include Form RCYL

Alternative Energy Production Credit

include Form AEPC

Contractor’s Gross Receipts Tax Credit. If multiple CGR accounts, mark here.

CGR Account ID:

.......................................................................................................Alternative Fuel Credit

include Form AFCR

Infrastructure User Fee Credit

include Form IUFC

Historic Property Preservation Credit

include federal Form 3468

10.

Mineral and Coal Exploration Incentive Credit

include Forms MINE-CERT and MINE-CRED

11.

Empowerment Zone Credit

12.

Biodiesel Blending and Storage Credit

include Form BBSC

13.Innovative Educational Program Credit.............................................................................................................

14.Student Scholarship Organization Credit ..........................................................................................................

15. Emergency Lodging Credit

include Form ELC

16.Unlocking Public Lands Credit...........................................................................................................................

17.Apprenticeship Tax Credit..................................................................................................................................

Type of Credit Recapture		Amount of Credit
		Recapture
18.	Historic Property Preservation Credit Recapture	00
19.	Film Production Credit Recapture	00
20.	Biodiesel Blending and Storage Credit Recapture	00
21.	Oilseed Crushing and Biodiesel/Biolubricant Production Credit Recapture	00

When attributing any credit or credit recapture from a partnership to its partners, use the same proportion the partnership used to report each partner’s income or loss for Montana tax purposes. Include a detailed breakdown that shows each partner’s share of the credit or credit recapture.

Use Montana Schedule K-1 to notify each partner of the amount of credit available to the partner.

*18DY0401*

Form PR-1, Page 5 - 2018

FEIN

Schedule IV – Montana Partnership Composite Income Tax Schedule

Part I. Eligible Participating Partners

Enter the number of eligible participating partners. See instructions for more information about eligible participating partners.

Part II. Composite Tax Ratio	1		2	3
Use the amount in column 3	Enter the amount from		Enter the amount from		Divide column 2 by
to complete the calculation	page 1, line 15		page 1, line 21		column 1
to complete the calculation	page 1, line 15		page 1, line 21		Do not enter more than
in column H below.	of this form.		of this form.		1.000000
		00		00

Part III. Enter below in columns A through H the required information and amounts for each eligible participating partner.
	A	B	C		D		E		F		G		H
		Social security							Montana taxable				Montana composite
		number or	Partner’s share of						Montana taxable		Enter the appropriate		income tax. Multiply
	Name	number or	Partner’s share of		Standard		Exemption		income – Subtract		Enter the appropriate		income tax. Multiply
	Name	federal employer	federal income from		deduction		$2,440		columns D and E		tax from the tax table		column G times
		identification	entity		deduction		$2,440		columns D and E		below.		composite tax ratio
		identification	entity						from column C.		below.		composite tax ratio
		number							from column C.				from Part II.
		number											from Part II.
1.				00		00		00		00		00		00
2.				00		00		00		00		00		00
3.				00		00		00		00		00		00
4.				00		00		00		00		00		00
5.				00		00		00		00		00		00
6.				00		00		00		00		00		00
7.				00		00		00		00		00		00
8.				00		00		00		00		00		00
9.				00		00		00		00		00		00
10.				00		00		00		00		00		00
11.	Enter the total composite tax from all additional	pages, if used										11.		00
			Add column H, lines 1 through 11. This is your total composite income tax liability.											00
		Transfer the amounts from column H to each partner’s Montana Schedule K-1, Part 5, Line 1.

*18DY0501*

If additional space is needed, make copies of this page. Include all additional pages from line 11 with the tax return.

If Your Taxable	But Not More Than	Multiply Your	And Subtract	This Is Your
Income Is More Than	But Not More Than	Taxable Income By	And Subtract	Tax

$0	$3,000	1% (0.010)	$0
$3,000	$5,200	2% (0.020)	$30
$5,200	$8,000	3% (0.030)	$82
$8,000	$10,800	4% (0.040)	$162
$10,800	$13,900	5% (0.050)	$270
$13,900	$17,900	6% (0.060)	$409
	More Than $17,900	6.9% (0.069)	$570

Form PR-1, Page 6 - 2018FEIN

Schedule VI – Reporting of Special Transactions

Complete Schedule VI only if your partnership filed any of the federal income tax forms described below. Mark the appropriate box indicating which form(s) you filed with the Internal Revenue Service for this tax year. If your answer is “Yes” to one or more of these forms, you need to include a complete copy of your federal tax return Form 1065.

1.	The partnership filed federal Form 8918 – Material Advisor Disclosure Statement with the Internal
	Revenue Service.	Yes
	Material advisors to any reportable transactions must file Form 8918.
2.	The partnership filed federal Form 8824 – Like-Kind Exchanges with the Internal Revenue Service.	Yes
	NOTE: Mark the box if your like-kind exchange includes Montana property. Nonresidents do not	Yes

	have to report a like-kind exchange if the properties involved do not include Montana property.
	Use Form 8824 to report each exchange of business or investment property for property of a like-
	kind.
3.	The partnership filed federal Form 8865 – Return of U.S. Persons With Respect to Certain
	Foreign Partnerships with the Internal Revenue Service.	Yes
	Use Form 8865 to report the information required under 26 USC 6038 (reporting with respect to
	controlled foreign partnerships), Section 6038B (reporting of transfers to foreign partnerships) or
	Section 6046A (reporting of acquisitions, dispositions and changes in foreign partnership interest).
4.	The partnership filed federal Form 8886 – Reportable Transaction Disclosure Statement with the
	Internal Revenue Service.	Yes
	Use Form 8886 to disclose information for each reportable transaction in which you participated.

Complete this section if you made a disbursement to a related party.

5.During this tax year, the partnership made payments to one or more related parties

(excluding salary compensation) that exceed $100,000 per recipient.

If you answer “Yes” to this question, please provide the name and federal employer identification number of each related party below and the amount that you paid to each related party:

Name	FEIN	Amount of Payment
			00

			00

			00

Yes

*18DY0601*

Understanding Montana Pr 1

What is the Montana PR-1 form used for?

The Montana PR-1 form is primarily used by partnerships to report their income, deductions, and tax liabilities to the state of Montana. This form includes detailed information about the partnership’s financial activities for the tax year, including distributions to partners, income sources, and applicable deductions. Partnerships with more than 100 partners are required to e-file this form.

What information do I need to complete the PR-1 form?

To complete the PR-1 form, you will need the following information:

A complete copy of federal Form 1065 and all related forms and schedules.
Details about the partnership, including its name, mailing address, and Federal Employer Identification Number (FEIN).
The number of partners, categorized by resident, nonresident, and other types.
Income and deduction details, including ordinary business income, guaranteed payments, interest income, and any other relevant financial data.
Information regarding any Montana tax credits or recaptures applicable to the partnership.

How do I determine if I need to e-file the PR-1 form?

If your partnership has more than 100 partners, you are required to e-file the PR-1 form. For partnerships with 100 or fewer partners, e-filing is not mandatory but may still be an option. Always check the latest guidelines from the Montana Department of Revenue to ensure compliance.

What happens if I submit the PR-1 form late?

Submitting the PR-1 form late can result in penalties and interest. The Montana Department of Revenue imposes a late filing penalty on partnerships that do not file on time. Additionally, interest may accrue on any unpaid taxes. To avoid these consequences, ensure that you file the form by the due date, which is typically the 15th day of the fourth month following the end of the tax year.

How can I pay any taxes owed on the PR-1 form?

You can pay any taxes owed on the PR-1 form online through the Montana Department of Revenue's website. If you prefer to pay by check, make it payable to the Montana Department of Revenue. Ensure that you include your FEIN and the tax year on the check to avoid processing delays.