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ID H0488
Bill
Status
Passed
3/13/2024
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
- Amends Section 63-3042A of Idaho Code regarding evidence of expenditures for tax deductions and credits
- A taxpayer's statement or invoice from a credit card company or financial institution conclusively establishes that an expenditure was made, absent clear and convincing evidence of fraud
- A taxpayer's sworn statement that an expenditure was made for an identified deductible purpose conclusively establishes the taxpayer's right to a deduction or credit
- Declares an emergency and makes the act effective July 1, 2024
Legislative Description
Amends existing law to provide that a taxpayer's sworn statement that an expenditure was made for an identified deduction is conclusive proof to establish the taxpayer's right to the deduction.
TAXES
Last Action
Reported Signed by Governor on March 12, 2024 Session Law Chapter 30 Effective: 07/01/2024
3/13/2024
Committee Referrals
Local Government and Taxation2/19/2024
Revenue and Taxation2/7/2024
Full Bill Text
No bill text available