ID H0733

Partnerships and S corporations may elect annually to become "affected business entities" subject to entity-level state income tax, with tax due by the 15th day of the fourth month following the taxable year close

Extends the deadline for taxpayers to notify the Idaho State Tax Commission of federal tax adjustments from 120 days to 180 days after the final determination date

Creates new Section 63-3070 establishing comprehensive procedures for reporting partnership-level federal audit adjustments to Idaho, including requirements for partnerships to file reports within 90 days and partners to file within 180 days of final federal determination

Allows audited partnerships to elect to pay tax on behalf of partners at the highest applicable tax rate, in lieu of requiring individual partner reporting and payment

Declares an emergency with an effective date of July 1, 2026