Page 7 - EconDevelopmentPacket

LOW TAXES

Here’s a bold idea: Why not bolster business by cutting taxes? We know it
works, because Idaho has done exactly that. In 2013, we exempted more
than 90% of Idaho’s businesses from paying personal property tax. In
2018, we lowered both our personal and corporate income taxes.

While many states had to raise revenues to cover budget shortfalls, Idaho’s budget remains bal-
anced. We believe in trimming spending rather than raising taxes, and now we’re rewarding Idaho
taxpayers by easing their burden even more.

Businesses in Idaho know they can count on a stable tax environment. They don’t have to worry that
their taxes will increase. It’s nice to find a little certainty in Idaho.

Average Property Tax 1.5%

Lowest
General Sales Tax 6%
Personal Income Tax 6.925% (Top bracket) per capita tax burden of any state.

Corporate Tax 6.925%

• 3.75% • 2.5% • $3,000 • EXEMPT

ENHANCED
INVESTMENT REAL PROPERTY NEW JOB TAX PROPERTY TAX
TAX CREDIT TAX CREDIT CREDIT EXEMPTION

3.75% on all new, 2.5% on investments in Up to $3,000 per new A full or partial property
depreciable, tangible new plants, buildings, job created. tax incentive can be
personal property and structural compo- granted by the county
placed in Idaho. nents placed in service commissioners where
in Idaho. the project is located.

To learn more about this and other reasons to locate your business in Idaho visit
the Idaho Commerce Dept. at https://commerce.idaho.gov/