15-36-309 . Certain royalties exempt. Exempt from taxation are royalties received by: (1) an Indian tribe with respect to on-reservation oil and gas production pursuant to a lease entered into under the Indian Mineral Leasing Act of 1938, 25 U.S.C. 396a through 396g; (2) the United States as trustee for individual Indians; and (3) the United States, the state of Montana, or a county or municipal government in Montana.
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