IDAPA 35.01.01.285 — S CORPORATIONS (RULE 285)

Sections 63-3025 and 63-3025A, Idaho Code
01.
Minimum Tax. The minimum tax is required of every S corporation that is required to file a return.
A name-holder or inactive S corporation that is authorized to do business in Idaho pays the minimum tax of twenty
dollars ($20) even though the S corporation did not conduct Idaho business activity during the taxable year. (4-6-23)
02.
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. An S corporation that
qualifies as a nonproductive mining corporation is required to file and pay tax if it receives any other income.
(4-6-23)
03.
Application of Credits. If an S corporation was previously a C corporation with an Idaho income
tax credit carryover at the time of the S corporation election, the S corporation may use any available credit carryover
against the tax on the excess net passive income or net recognized built-in gains if the carryover period related to the
Idaho income tax credit has not expired before the taxable year in which the tax must be reported.
(4-6-23)
IDAHO ADMINISTRATIVE CODE
IDAPA 35.01.01
Idaho State Tax Commission
Income Tax Administrative Rules
Section 286
Page 45
04.
Tax Resulting From the Requirements of Section 63-3022L, Idaho Code. An S corporation is
subject to tax at the corporate rate on the income required to be reported for qualifying shareholders under Section 63-
3022L, Idaho Code. This tax is in addition to any tax the S corporation owes under Section 63-3025 or 63-3025A,
Idaho Code.
(4-6-23)
05.
Qualified Subchapter S Subsidiary. A corporation that is a qualified subchapter S subsidiary
(QSSS) will be treated for Idaho income tax purposes the same as treated for federal income tax purposes. The QSSS
will not be treated as a separate corporation, but all the assets, liabilities, and items of income, deduction, and credit
of a QSSS will be treated as assets, liabilities and such items of the S corporation. Since the QSSS is not treated as a
separate taxpayer, it is not subject to the minimum tax.
(4-6-23)