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ID H0002
Bill
Status
2/12/2013
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Adds new section 63-3022R to allow Idaho taxpayers a deduction for recovered amounts previously deducted from taxable income that were not allowed or allowable as an Idaho income tax deduction.
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Amends section 63-3022 to correct a code reference from "63-3022Q" to "63-3022QR" in the list of sections containing adjustments to taxable income.
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Declares an emergency and makes the act retroactively applicable to January 1, 2013.
Legislative Description
Adds to and amends existing law to allow a deduction for certain recovery amounts included in federal income if no benefit was previously allowed for Idaho income tax purposes.
INCOME TAX
Last Action
Reported Signed by Governor on February 12, 2013 Session Law Chapter 2 Effective: 01/01/13
2/12/2013