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ID H0686
Bill
AI Summary
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Creates a venture capital tax credit equal to 50% of Idaho taxable income from capital gains earned on venture capital investments in Idaho businesses with 20 or fewer employees.
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Credit applies only to equity capital investments provided between January 1, 2010, and December 31, 2014, in new businesses with 20 or fewer employees at time of investment.
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Allows excess credits to be carried forward for up to 14 taxable years if they exceed the annual tax limitation.
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Permits credits earned by one member of a unitary group of corporations to be used by another member of the group instead of carried over.
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Bill becomes effective retroactively to January 1, 2010, and expires on January 1, 2015.
Legislative Description
Adds to existing law to provide a tax credit for companies that provide venture capital to small businesses with twenty or fewer employees.
INCOME TAXATION
Last Action
to Loc Gov
3/24/2010