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ID H0355
Bill
Status
2/9/2018
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
House Bill 355 Summary
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Updates Idaho's Internal Revenue Code conformity reference from January 21, 2017 to December 2017 for taxable years beginning on or after January 1, 2017, with Internal Revenue Code sections 965 and 213 applied as in effect on December 31, 2017.
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Clarifies that marriages recognized by the United States Supreme Court and the Ninth Circuit Court of Appeals are recognized for Idaho income tax purposes.
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Adds Internal Revenue Code section 965 (relating to corporate dividends received) to the list of corporate deductions that must be added back when computing Idaho taxable income.
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Declares an emergency and provides retroactive application to January 1, 2018.
Legislative Description
Amends existing law to clarify what the term “Internal Revenue Code” means for state income tax purposes and to provide adjustments to taxable income for corporations.
INCOME TAXATION
Last Action
Reported Signed by Governor on February 9, 2018 Session Law Chapter 3 Effective: Retroactive to 01/01/2018
2/9/2018