|Income Tax Administrative Rules
Rule 045 Non-resident
Rule 075 Tax on individuals, estates and trusts.
Rules 076,077, 079 are deleted. Rates and brackets will be in Rule 075.
Rule 078 Tax on trusts electing small business trusts.
Discussion on whether there were substantive changes.
Ms Boyd clarified that information previously contained in Rules 076, 077,
079 and 078 will all now be reflected in the table in Rule 075.
Rule 105 Adjustments to taxable income – additions required of all
taxpayers. Discussion on projections of fiscal impact. There are no
projections now as it would take an extensive re-computation of past tax
returns. Dan Johns will look into getting an estimate for the committee.
Commission still reviewing impact of investment tax credit.
Rule 108 adjustments to taxable income – additions required only of
Rule 120 Adjustments to taxable income – subtractions available to all
Rule 193 Health insurance costs and long-term care insurance.
Discussion of federal deduction. Variable federal deduction is allowed.
Idaho statute allows 50% deduction.
Rule 253 Non-resident and part-year resident individuals – additions
required in computing Idaho adjusted income.
Rule 254 Non-resident and part-year resident individuals – subtractions
allowed in computing Idaho adjusted income.
Rules 740 and 741are deleted. The natural resource conservation credit
was enacted during 1997 in SB 1186. It contained a provision that the act
would be null, void and of no force and effect on and after Jan 1, 2003,
which date was not extended by the 2003 legislature. Question about
extent of utilization of this credit. Per Dan Johns it was not widely used.
Rule 746 Credit for qualifying new employees. Question concerning what
employers qualify for this credit. It would be a taxpayer who’s involved in a
revenue producing enterprise to convert natural resources into another
product, such as mining, farming, timber. Discussion of Governor’s tax
credit and how it relates to this rule followed. Ted Spangler said the
proposed bill is not coming from the tax commission. It is the Governor’s
bill. Sen Bunderson let the committee know that as soon as the bill is
printed this committee will schedule hearings even if it cannot immediately
be acted on.
Rule 790 is amended to conform the transfer limitations discussed in the
rule to the legislative changes.
Rule 791 is amended to impose on the intermediary the same notification
requirements of an intended transfer that are imposed on a transferor.
Rule 793 Transfers of credit – in general. Discussion on legislation of
extension of credits and extent of the utilization of these credits. It was
said to be extensive.
Rule 799 Transfer of credit – notification of intended transfer.
Discussion on publishing of Rules and how it conforms with State Statute.
Ted Spangler explained how the proposed rules were published in non-technical language in the Idaho Bulletin. Dept of Administration publishes
the Descriptive Summary in the newspaper. Notice of adoption of
unchanged Pending Rules is not re-printed. If, because of public comment
the Rules are amended, they are printed and published.