Idaho Admin. Code r. 35.01.01.940 - IDAHO SMALL EMPLOYER INCENTIVE ACT OF 2005 AS MODIFIED BY 2006 LEGISLATION - DEFINITIONS
Title 63, Chapter 44, Idaho Code. For purposes of administering the Idaho Small Employer Incentive Act of 2005, as modified by 2006 legislation, and Rules 940 through 944 of these rules, the following definitions apply: (4-6-23)
01.
Buildings and Structural Components . Buildings and structural
components means buildings and structural components of buildings as defined in
Federal Treasury Regulation Section
1.48 -1 for Internal Revenue Code
Section 48 repealed by
Public Law
101-508 . (4-6-23)
02.
New Plant and Building
Facilities. New plant and building facilities are facilities where
employees are physically employed. (4-6-23)
03.
Investment in New Plant .
Investment in new plant means new plant and building facilities : (4-6-23)
a. That are constructed or erected by the
taxpayer, or (4-6-23)
b. That are
acquired by the taxpayer and whose original use begins with the taxpayer after
such acquisition. Original use means the first use to which the property is
put, whether or not such use corresponds to the use of such property by the
taxpayer. Property used by the taxpayer prior to its acquisition does not
qualify as new plant. (4-6-23)
c.
That qualify for the investment tax credit under Section
63-3029B, Idaho Code, or is a
building or structural components of buildings. (4-6-23)
04.
Making Capital Investments .
The date capital investments are considered made will be determined in the same
manner as the date assets are considered placed in service pursuant to the
federal treasury regulations. (4-6-23)
05.
New Employee . A new employee
cannot be created by reorganizing the business in such a manner that the
employee is reassigned to working in the project site instead of outside the
project site. An employee within Idaho transferred to a qualifying position
within the project site may qualify as a new employee if his previous position
is filled by another employee creating a net new job in Idaho. An employee
working outside of Idaho and transferred to a qualifying position within the
project site may also qualify as a new employee . (4-6-23)
06.
Project Period . The project
period is a period of time that begins and ends as follows: (4-6-23)
a. The project period may begin on one (1) of
the following dates, but not prior to January 1, 2006: (4-6-23)
i. The date of a physical change to the
project site ; or (4-6-23)
ii. The
date new employees begin providing personal services at the project site .
(4-6-23)
b. The project
period ends at the earliest of: (4-6-23)
i.
The conclusion of the project, (4-6-23)
ii. Ten (10) years after the beginning of the
project; or (4-6-23)
iii. December
31, 2030. (4-6-23)
07.
Project Site . The project
site may include one (1) location or more than one (1) location in Idaho.
However, if more than one (1) location in Idaho is used, eighty percent (80%)
or more of the investment required in the tax incentive criteria is to be
located at one (1) contiguous site. (4-6-23)
08.
Small Employer Investment Tax
Credit. Small employer investment tax credit means the additional income
tax credit allowed by Section
63-4403, Idaho Code.
(4-6-23)
09.
Small Employer
New Jobs Tax Credit. Small employer new jobs tax credit means the
additional income tax credit for new jobs allowed by Section
63-4405, Idaho Code.
(4-6-23)
10.
Small Employer
Real Property Improvement Tax Credit. Small employer real property
improvement tax credit means the real property improvement tax credit allowed
by Section
63-4404, Idaho Code.
(4-6-23)
11.
Small Employer
Tax Incentive Criteria. Small employer tax incentive criteria means the
tax incentive criteria defined in Section
63-4402(2)(j),
Idaho Code. See Rule 942 of these
rules for more information. (4-6-23)
12.
Small Employer Tax
Incentives. Small employer tax incentives means the tax incentives
allowed by Title 63, Chapter 44, Idaho Code. (4-6-23)
Notes
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