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ID H0449
Bill
Status
2/12/2018
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
House Bill 449 Summary
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Amends Idaho Code Section 63-3022 to allow individuals to add or subtract net capital gains or losses from precious metal bullion and monetized bullion sales when computing Idaho taxable income.
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Applies the same treatment to corporations, allowing them to add or subtract net capital gains or losses from precious metal bullion and monetized bullion sales included in federal adjusted gross income.
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Defines "precious metal bullion" and "monetized bullion" by reference to Section 63-3622V, Idaho Code.
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Effective date is January 1, 2019.
Legislative Description
Amends existing law to provide that capital gains and losses on precious metal bullion and monetized bullion sales be added to or subtracted from Idaho taxable income under certain circumstances.
INCOME TAXATION
Last Action
Introduced, read first time; referred to: Local Government & Taxation
2/13/2018