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ID H0183
Bill
Status
4/3/2019
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
HB 183 Summary
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Amends Section 63-3022 of Idaho Code regarding adjustments to taxable income for corporations.
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Removes the requirement that corporations add back deductions for Section 965 of the Internal Revenue Code (relating to foreign income taxation).
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Changes the list of special corporate deductions from sections 243(a), (c), 244, 245, 245A, 246A, 250, and 965 to exclude Section 965 and Section 250.
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Declares an emergency and provides retroactive application to January 1, 2018, with the Section 965 elimination effective for tax years commencing on or after January 1, 2017.
Legislative Description
Amends existing law to revise provisions regarding the taxation of corporate foreign income.
INCOME TAXES
Last Action
Reported Signed by Governor on April 3, 2019 Session Law Chapter 294 Effective: Retroactive to 01/01/2018, with provisions
4/3/2019