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ID H0519
Bill
Status
1/23/2026
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
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Updates Idaho's Internal Revenue Code conformity date from January 1, 2025 to January 1, 2026, while maintaining the January 1, 2020 application date for IRC section 85 (unemployment compensation taxation)
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Prohibits taxpayers from claiming the 3% capital investment tax credit on amounts deducted under IRC sections 168(k) (bonus depreciation) or 179 (expensing) when computing Idaho taxable income
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Prohibits taxpayers from claiming the 5% research activities tax credit on amounts deducted under IRC section 174 that constitute qualified research expenses or basic research payments
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Maintains the 14-year carryforward period for unused capital investment and research activity tax credits
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Declares an emergency and applies retroactively to January 1, 2025
Legislative Description
Amends existing law to update references to the current Internal Revenue Code and to revise certain tax credits related to capital investments and research activities.
TAXATION
Last Action
Reported Printed and Referred to Revenue & Taxation
1/26/2026