ID H0038

Amends Idaho Code Section 63-3021 to clarify that net operating loss deductions must add back the domestic production activities deduction under Internal Revenue Code Section 199 when calculating Idaho net operating loss.

Renumbers subsections (3), (4), and (5) in Section 63-3021(b) to (4), (5), and (6) to accommodate the new provision regarding domestic production activities deduction.

Amends Idaho Code Section 63-3022(c)(5) to correct the reference from "section 63-3021(b)(3) and (4)" to "section 63-3021(b)(2), (3) and (4) through (5)" for purposes of defining "income" in net operating loss calculations.

Declares an emergency and provides that the act takes effect retroactively to January 1, 2015.