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ID H0215
Bill
Status
3/24/2017
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Adds franchise tax to the definition of "new state revenue" that can be credited under the Idaho Reimbursement Incentive Act, including franchise tax generated by corporations, pass-through entities, and proprietorships.
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Clarifies that "new state revenue" excludes taxes that are reimbursable by the federal government or any subdivision thereof.
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Requires all reimbursement incentive agreements with applicants to include a provision specifying that no tax credit will be allowed for taxes that have been or will be reimbursed by the federal government or any subdivision thereof.
Legislative Description
Amends existing law to include franchise tax in “new state revenue” and to exclude taxes reimbursable by the federal government, and to provide that agreements with applicants for the reimbursement shall exclude taxes reimbursable by the federal government.
IDAHO REIMBURSEMENT INCENTIVE ACT
Last Action
Reported Signed by Governor on March 24, 2017 Session Law Chapter 149 Effective: 07/01/2017
3/24/2017