Statutes, codes, and regulations
Idaho Administrative Code
Title IDAPA 35 - Tax Commission, State
Rule 35.01.01 - INCOME TAX ADMINISTRATIVE RULES
Section 35.01.01.942 - IDAHO SMALL EMPLOYER INCENTIVE ACT OF 2005 AS MODIFIED BY 2006 LEGISLATION: SMALL EMPLOYER TAX INCENTIVE CRITERIA

Idaho Admin. Code r. 35.01.01.942

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Current through September 2, 2024
Section 35.01.01.942 - IDAHO SMALL EMPLOYER INCENTIVE ACT OF 2005 AS MODIFIED BY 2006 LEGISLATION: SMALL EMPLOYER TAX INCENTIVE CRITERIA

Section 63-4402, Idaho Code

01.In General. The small employer tax incentive criteria are the minimum requirements a taxpayer must meet in order to be eligible for small employer tax incentives. To meet the small employer tax incentive criteria, a taxpayer must satisfy the following requirements at the project site, during the project period:
a. Making capital investment in new plant and building facilities totaling five hundred thousand dollars ($500,000) or more;
b. Increasing employment by at least ten (10) new employees who meet the requirements of Section 63-4402(2)(j)(ii)(1), Idaho Code;
c. Employment increases more than the ten (10) new employees described in Paragraph 942.01.b. of this rule will meet the requirements of Section 63-4402(2)(j)(ii)(2), Idaho Code; and
d. Once the increase in employment has been reached, maintaining that increased employment in Idaho for the remainder of the project period.
02.Certification. A taxpayer is to certify that he has met, or will meet, the small employer tax incentive criteria before he can claim any of the small employer tax incentives. Certification is accomplished by filing the applicable form as prescribed by the Tax Commission. The certification form includes the following information and be filed with the Tax Commission prior to claiming any of the small employer tax incentives:
a. A description of the qualifying project;
b. The estimated or actual start date of the project;
c. The estimated or actual end date of the project;
d. The location of the project site or sites;
e. The estimated or actual number of new jobs created during the project period; and
f. The estimated or actual cost of capital investment in new plant and building facilities for each year in the project period.
03.Copy of Certification Form Required. A copy of the certification form will be attached to the Idaho income tax return for each taxable year that a small employer income tax incentive is claimed or carried over.

Idaho Admin. Code r. 35.01.01.942

Effective April 6, 2023