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State of Idaho Web Site

 


Taxes

link to tax calendarListed below are the most common taxes a small business or a business owner may be required to pay listed by the agencies that collect them. 

Your business may be eligible for a tax credit or incentive for certain business activities. Agencies offering tax credits are listed below.

Idaho Department of Commerce
Tax Incentives - http://commerce.idaho.gov/incentives-and-financing/incentives
 
Idaho Department of Insurance
Hospital and Professional Service Corporation Tax - Paid by hospitals and professional service corporations that self-fund their insurance coverage - http://www.doi.idaho.gov/Company/PTDocs/Thpsc.PDF
Premium Tax - Paid by insurance companies; workers comp insurance is excluded - http://www.doi.idaho.gov/
 
Idaho Department of Labor
  Unemployment Insurance (a tax, not insurance) - http://labor.idaho.gov/publications/UI_Tax_Information.pdf
Hiring Incentives & Tax Credits - http://labor.idaho.gov/dnn/Default.aspx?TabId=644&AspxAutoDetectCookieSupport=1
 
Idaho Industrial Commission
  Premium Taxes
Premium Tax - Paid by insurance companies that offer workers comp insurance - www.iic.idaho.gov/forms/ic_4008_semi_annual_premium.pdf
Premium Tax - Paid by companies that self-insure workers comp coverage - www.iic.idaho.gov/forms/ic_4010_semi_annual_premium_self.pdf
 
Idaho State Tax Commission
Auditorium Districts Local Sales Tax (Boise, Idaho Falls, Pocatello) - http://tax.idaho.gov//i-1117.cfm
Beer and Wine Taxes - Beer: http://tax.idaho.gov/i-1021.cfm
Wine: http://tax.idaho.gov/i-1025.cfm
Cigarette and Tobacco Taxes - Cigarette: http://tax.idaho.gov/i-1047.cfm
Tobacco: http://tax.idaho.gov/i-1048.cfm
  Coin Operated Amusement Device and Vending Machine Annual Decals - http://tax.idaho.gov/
  Estimated Taxes
  Estimated Taxes - Corporations - http://tax.idaho.gov/s-results-form.cfm?doc=EFO00026
  Estimated Taxes - Individuals - Payments are optional - http://tax.idaho.gov/s-results-form.cfm?doc=EFO00092 and http://tax.idaho.gov/i-1161.cfm
  Fiduciary Tax - http://tax.idaho.gov/s-results-form.cfm?doc=EFO00036
  Gasoline and Fuels Taxes - http://tax.idaho.gov/i-1119.cfm
  Illegal Drug Stamp Tax - http://tax.idaho.gov/search-formspublications.cfm?ch=drug&t=tt
  Income Taxes
  Income Tax - Business -  http://tax.idaho.gov/i-1044.cfm
  Income Tax - Personal - http://tax.idaho.gov/i-1039.cfm
  Income Tax Withholding Account - Establishing - http://tax.idaho.gov/i-1026.cfm
  License Tax on Electricity (Kilowatt Hour Tax) - http://tax.idaho.gov/s-results-form.cfm?doc=EFO000159
  Local Option Taxes
  Local Option City Sales Tax - Collected in 13 Cities - http://tax.idaho.gov/i-1117.cfm
  Local Option County Sales Tax - Nez Perce County - http://tax.idaho.gov/i-1117.cfm (until October 1, 2014)
  Mine License Tax - http://tax.idaho.gov/s-results-form.cfm?doc=EFO00048
  Sales and Use Taxes
  Multi-jurisdiction Uniform Sales and Use Tax Exemption Certificate - Accepted in 38 states - http://www.mtc.gov/Resources.aspx?id=1594
  Non-profits/Charities - http://tax.idaho.gov/i-1098.cfm
  Sales and Use Tax (resellers permit) - http://tax.idaho.gov/i-1049.cfm
  Temporary Sales Tax Permit - http://tax.idaho.gov/i-1033.cfm
  Sales tax for contractors who improve real property - http://tax.idaho.gov/i-1013.cfm
  Sales tax for temporary events - http://tax.idaho.gov/i-1037.cfm
  Sales tax - recreation and admission fees - http://tax.idaho.gov/s-results-pub.cfm?doc=EBR00017            
  Severance Tax - http://tax.idaho.gov/search-reports.cfm?ch=EPB00033 (see page 5)
  Travel and Convention Hotel/Motel Tax - http://tax.idaho.gov/i-1096.cfm
  Use tax - http://tax.idaho.gov/i-1023.cfm
  Vending Machine Annual Decal - http://tax.idaho.gov/i-1085.cfm
 
Internal Revenue Service
  Affordable Care Act Tax Provisions - www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home
Estimated Taxes
  Corporations - www.irs.gov/publications/p542/ar02.html#en_US_2011_publink1000257787
Self-employed/Independent Contractors - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes
Farmers/Fishermen - www.irs.gov/publications/p505/ch02.html#en_US_2013_publink1000194654
Excise Tax - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Excise-Tax
Hobby Business - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Starting-a-Business
Income Tax - Business and Personal
Business - www.irs.gov/taxtopics/tc407.html
Personal - www.irs.gov/individuals
Luxury Tax (a form of Excise tax) - www.irs.gov/pub/irs-pdf/p510.pdf
Medicare Tax (FICA) - www.irs.gov/Individuals/International-Taxpayers/Social-Security-Tax---Medicare-Tax-and-Self-Employment
Non-profits/Charities - www.irs.gov/Charities-&-Non-Profits
Outsourced Payroll and Tax Reporting - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Outsourcing-Payroll-and-Third-Party-Payers
Self-employment Tax - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employment-Tax-Social-Security-and-Medicare-Taxes
  Social Security Tax (FICA) - www.irs.gov/Individuals/International-Taxpayers/Social-Security-Tax---Medicare-Tax-and-Self-Employment
Tax Credits/Incentives - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Business-Tax-Credits
Tax Payer Identification Number (EIN) - www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online
Unemployment Tax - Federal - www.irs.gov/Individuals/International-Taxpayers/Federal-Unemployment-Tax
 
Section 179 Depreciation Deduction - renewed for 2014 http://www.section179.org/
 
U.S. Department of the Treasury Alcohol and Tobacco Tax and Trade Bureau
  Alcohol Tax - www.ttb.gov/applications/index.shtml
Cigarette and Tobacco Tax -  www.ttb.gov/applications/index.shtml
Firearms and Ammunition Excise Tax - www.ttb.gov/applications/index.shtml
 

Property Tax (real estate and personal property) - Property taxes are established and collected by individual counties and taxing districts, not by the state. The collected funds are used to finance local services, such as roads, schools and libraries. Two types of property tax are collected, personal property tax and real estate property tax.

Personal property tax is assessed on the value of depreciable assets owned by a business, including machinery, equipment, and office equipment (including computers, software, fax machines, desks, chairs, and more). The tax is paid annually or semi-annually in December and June to your local county assessor.  The first $100,000 of a business's personal property is exempt from taxation.

Real estate
property tax is collected on the assessed value of real estate (real property) owned by a business or an individual. Real estate taxes are paid annually or semi-annually in December and June to your local county assessor.

Important:
Personal property tax is not in any way related to income tax. If you own a business, you may owe property tax. The tax must be paid regardless of whether your business has income or owes income tax. Failure to pay property tax can result in a lien being filed against the business's real estate and/or equipment.

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