Questions & Answers

What is the Mineral and Coal Exploration Incentive Credit?

You can claim a credit for the certified expenditures for mining exploration activities involving mineral and coal deposits. In determining your credit, your qualified expenditures include those costs that you incurred for activities that directly support the exploration at a specific site. Your credit cannot exceed 50% of that portion of your tax liability that is related to the production from the mining operation for which the exploration activity occurred.

You are required to apply for the certification of expenditures incurred by sending the Montana Form MINE-CERT  to the department within 60 days after the close of the calendar year. The department will make a determination about the certification of the expenditures by September 30.

For further instructions on the Mineral and Coal Exploration Incentive Credit, and to calculate this credit, see Montana Form MINE-CRED . When you claim this credit, you will have to include copies of Forms MINE-CRED and MINE-CERT with your tax return.

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