Idaho Admin. Code r. 35.01.01.300 - TAX ON CORPORATIONS
Sections 63-3025 and 63-3025A, Idaho Code
01.
Excise Tax. A corporation
excluded from the tax on corporate income imposed by Section
633025, Idaho Code, is subject
to the excise tax imposed by Section
63-3025A, Idaho Code. If a
corporation is subject to the excise tax imposed by Section
63-3025A, Idaho Code, it is not
subject to the tax on corporate income imposed by Section
63-3025, Idaho Code.
(4-6-23)
02.
Minimum
Tax. A name-holder or inactive corporation that is authorized to do
business in Idaho pays the minimum tax of twenty dollars ($20) even though the
corporation did not conduct Idaho business activity during the taxable year. A
nonproductive mining corporation generally is not required to pay the minimum
tax. (4-6-23)
03.
Nonproductive Mining Corporations. A nonproductive mining
corporation is a corporation that does not own any producing mines and does not
engage in any business other than mining. A corporation that qualifies as a
nonproductive mining corporation is required to file and pay tax if it receives
any other income. (4-6-23)
04.
Protection Under Public Law 86-272
. A
corporation whose Idaho business activities fall under the protection of
Public Law
86-272 is exempt from the taxes imposed by
Sections 63-3025 and
63-3025A, Idaho Code, including
the minimum tax. (4-6-23)
05.
Corporate Income Tax Rates. Corporate tax rates are listed at
https://tax.idaho.gov/busit.
(4-6-23)
Notes
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