Idaho § 63-4403 ADDITIONAL INCOME TAX CREDIT FOR CAPITAL INVESTMENT

Idaho Statutes

§ 63-4403 — ADDITIONAL INCOME TAX CREDIT FOR CAPITAL INVESTMENT

Idaho·Title 63 REVENUE AND TAXATION·Ch. 44 THE IDAHO SMALL EMPLOYER INCENTIVE ACT OF 2005

(1)For taxable years beginning on or after January 1, 2006, and before December 31, 2030, and subject to the limitations of this chapter, a taxpayer who has certified that the tax incentive criteria will be met within a project site during a project period shall, in regard to qualified investments made after the beginning of the project period and before December 31, 2030, in lieu of the investment tax credit provided in section 63-3029B, Idaho Code, be allowed a nonrefundable credit against taxes imposed by sections 63-3024, 63-3025 and 63-3025A, Idaho Code, in the amount of three and seventy-five one hundredths percent (3.75%) of the amount of qualified investment made during the project period, wherever located within this state.

(2)The credit allowed by this section shall not exceed

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(1) For taxable years beginning on or after January 1, 2006, and before December 31, 2030, and subject to the limitations of this chapter, a taxpayer who has certified that the tax incentive criteria will be met within a project site during a project period shall, in regard to qualified investments made after the beginning of the project period and before December 31, 2030, in lieu of the investment tax credit provided in section 63-3029B, Idaho Code, be allowed a nonrefundable credit against taxes imposed by sections 63-3024, 63-3025 and 63-3025A, Idaho Code, in the amount of three and seventy-five one hundredths percent (3.75%) of the amount of qualified investment made during the project period, wherever located within this state.
(2) The credit allowed by this section shall not exceed sixty-two and five-tenths percent (62.5%) of the tax liability of the taxpayer.
(3) The credit allowed by this section shall not exceed seven hundred fifty thousand dollars ($750,000) in any one (1) taxable year.

Idaho § 63-4403 (ADDITIONAL INCOME TAX CREDIT FOR CAPITAL INVESTMENT) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

[63-4403, added 2005, ch. 370, sec. 1, p. 1181; am. 2006, ch. 314, sec. 2, p. 977; am. 2009, ch. 191, sec. 2, p. 623; am. 2010, ch. 44, sec. 3, p. 82; am. 2020, ch. 243, sec. 2, p. 713.]