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Idaho: New Law Clarifies Application of Recently Enacted Corporate Income Tax Rate Reduction
H.B. 479, signed by gov. 4/4/25. New law amends recently enacted Idaho legislation [see H.B. 40, signed by gov. 3/6/25, and State Tax Matters, Issue 2025-10, for more details on this new law] by clarifying that Idaho’s corporate income tax rate is lowered from 5.695% to 5.3% and is applicable retroactively to tax years that begin on or after January 1, 2025. The newly enacted Idaho corporate income tax rate reduction follows earlier corporate income tax rate reductions that were enacted in 2024 and 2023 [see H.B. 521 (2024) and State Tax Matters, Issue 2024-14; and H.B. 172 (2023) and State Tax Matters, Issue 2023-13, for more details on the 2024 and 2023 legislation]. Please contact us with any questions.
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