This Formula System for Distribution of Earnings to Partners provides a list of provisions to conside when making partner distribution recommendations. Some of the factors to consider are: Collections on each partner's matters, acquisition and development of new clients, profitablity of matters worked on, training of associates and paralegals, contributions to the firm's marketing practices, and others.
Montana Formula System for Distribution of Earnings to Partners
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Multi-State
Control #:
US-L05041A
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FAQ
All wages and any other compensation for services performed in the United States are generally considered to be from sources in the United States.
National per capita general revenues were $12,277. Montana does not levy a general sales tax. After federal transfers, Montana's largest sources of per capita revenue were property taxes ($1,840) and individual income taxes ($1,708).
Montana source income is any income earned while living or located in Montana.
Montana source income is any income earned while living or located in Montana.
Montana's economy is dominated by the primary sector?agriculture, forestry, mining, and energy production?and by services.
Computation of income is a systematic presentation of all gains, exemptions, rebates, reliefs, deductions, and the computation of taxes in connection with the calculation of taxes.
Montana State Income Tax The range is between 1% (for income between $0-$360) and 6.75% (for income over $21,600). If your LLC has elected to be taxed as a C-corp, you must pay corporate income tax as well. The standard rate for this is 6.75%.
The Montana Schedule K-1 is required to be provided to all owners. It shows information about an owner's share of Montana source income, gains, losses, deductions, credits, and other items from a pass-through entity.