H05572018 Regular Session

Repeals, adds to and amends existing law to repeal the grocery tax credit and related informational statutes, enact a sales tax exemption for food, reduce individual and corporate income tax rates, revise the sales tax distribution formula and repeal the income tax credit for capital investment.

TAXES -- Repeals, adds to and amends existing law to repeal the grocery tax credit and related informational statutes, enact a sales tax exemption for food, reduce individual and corporate income tax rates, revise the sales tax distribution formula and repeal the income tax credit for capital investment.

TAXES

IntroducedIn CommitteeFloor VoteEnacted

STATEMENT OF PURPOSE

Repeals, adds to and amends existing law to repeal the grocery tax credit and related informational statutes, enact a sales tax exemption for food, reduce individual and corporate income tax rates, revise the sales tax distribution formula and repeal the income tax credit for capital investment. was introduced in the 2018 Idaho Legislative Session. This bill is categorized under general legislation. View the full bill text and voting record on the Idaho Legislature website.

LATEST ACTION

Reported Printed and Referred to Revenue & Taxation

BILL INFO

Session: 2018
Chamber: house
Status date: Feb 13, 2018

RELATED BILLS

Similar bills

H0463Repeals, adds to and amends existing law to provide for applicability of the Internal Revenue Code to different tax years; to revise the calculation of a net operating loss; to revise the calculation of net taxable income for corporations; to reduce the individual and corporate income tax rate; and to provide for a child tax credit.H0558Repeals, adds and amends existing law to provide for applicability of the Internal Revenue Code to different tax years; to allow to a taxpayer a carryforward for certain amounts disallowed in the calculation of next taxable income; to revise the calculation of net taxable income for corporations; to reduce the individual and corporate income tax rate.H0675Amends H.B. 463 to revise the child tax credit and to provide legislative intent.H0659Amends existing law to revise the taxation of a corporation's foreign income, to increase the deduction from Idaho taxable income for foreign dividends, and to remove language regarding certain conditional water's-edge corporate reporting requirements.

DOCUMENTS

Bill Text (PDF) ↗Statement of Purpose (PDF) ↗

LINKS

View on Idaho Legislature ↗