TITLE 63

REVENUE AND TAXATION

CHAPTER 44

THE IDAHO SMALL EMPLOYER INCENTIVE ACT OF 2005

63-4404.  Real property improvement tax credit. (1) For taxable years beginning on or after January 1, 2006, and before December 31, 2030, 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 be allowed a nonrefundable credit against taxes imposed by sections 63-3024, 63-3025 and 63-3025A, Idaho Code, in the amount of two and five-tenths percent (2.5%) of the investment in new plant which is incurred during the project period applicable to the project site in which the investment is made.

(2)  The credit allowed by this section shall not exceed one hundred twenty-five thousand dollars ($125,000) in any one (1) taxable year.

(3)  No credit is allowable under this section for a qualified investment in regard to which a credit under section 63-4403, Idaho Code, is available.

(4)  The credit allowed by this section is limited to buildings and structural components of buildings related to new plant and building facilities.

History:

[63-4404, added 2005, ch. 370, sec. 1, p. 1181; am. 2006, ch. 314, sec. 3, p. 977; am. 2009, ch. 191, sec. 3, p. 624; am. 2020, ch. 243, sec. 3, p. 713.]