Idaho Boosts Incentives for Job Creation through the Idaho Reimbursement Incentive Act

As of July 1, 2014, the Idaho State Tax Commission put in place temporary administrative rules, creating a refundable tax credit for qualified businesses entities that create a certain minimum number of qualified new jobs and generate certain new revenue in Idaho.
Businesses approved for a reimbursement incentive agreement agrees to an approved project to generate new revenue, defined as the Idaho portion of state corporate income tax, personal income tax, and sales and use tax that is paid by the applicant in excess of those taxes paid at the date of application and attributable only to the new growth upon which the application is based, and create a minimum of 20 (rural areas) to 50 (urban areas) new jobs in Idaho. Up to 30% of the new state revenue over the term of the project may be received in the form of a tax credit over the term of the project, which cannot exceed 15 years.

Watch this video to learn more about Idaho Tax Reimbursement Incentives.

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