News

Actions

House panel introduces bill to match Idaho tax code with IRS

KIVI-Default-Image_1280x720.png
Posted at 4:13 PM, Jan 19, 2017
and last updated 2017-01-19 18:13:37-05

Lawmakers on the Idaho House Revenue and Taxation Committee have introduced legislation to bring the state's tax code in line with federal rules.

Tom Shaner, with the Idaho Tax Commission, said Thursday that the move is estimated to cost Idaho almost nothing -- marking the first time in nearly a decade that bringing Idaho's tax code in line with federal rules won't carry a hefty financial burden.

That's because Congress passed a stopgap spending bill in December, which provides money to fund the government through April 28.

Lawmakers usually prefer to sync the state's tax code with the federal version to make it easier for residents and businesses to do their taxes or avoid having to keep separate accounting books to track the different rules.

(by Associated Press)