IDAPA 35.01.01.753 — BROADBAND EQUIPMENT INVESTMENT CREDIT: RECORD-KEEPING REQUIREMENTS

(RULE 753).
Section 63-3029I, Idaho Code
01.
Information Required. Each taxpayer must retain and make available, on request, records for each
item of property included in the computation of the broadband equipment investment credit claimed on an income tax
return subject to examination. The records must include all of the following:
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a.
The order from the Idaho Public Utilities Commission confirming that the installed equipment is
qualified broadband equipment.
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b.
A description of the property;
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c.
The asset number assigned to the item of property, if applicable;
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d.
The acquisition date and date placed in service;
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e.
The basis of the property; and
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f.
The retirement, disposition, or date transferred out of Idaho, or date no longer used in Idaho, if
applicable.
(4-6-23)
02.
Accounting Records Subject to Examination. Accounting records that may need to be examined
to document acquisition, disposition, location, and utilization of assets include the following:
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a.
Source documents supporting the application to the Idaho Public Utilities Commission;
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b.
Accounting documents that contain asset and account designations and descriptions. These
documents include a chart of accounts, the accounting manual, controller's manual, or other documents containing
this information;
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c.
Asset location records including asset directories, asset registers, insurance records, property tax
records, or similar asset inventory documents;
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d.
Records verifying ownership including purchase contracts and cancelled checks;
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IDAHO ADMINISTRATIVE CODE
IDAPA 35.01.01
Idaho State Tax Commission
Income Tax Administrative Rules
Section 771
Page 107
e.
Invoices, shipping documents, and similar documents reflecting the transfer of assets in and out of
Idaho; and
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f.
A system that verifies that property on which the broadband equipment investment credit was
claimed continues to maintain its status as Idaho qualifying property throughout the recapture period.
(4-6-23)
03.
Failure to Maintain Adequate Records. Failure to maintain any of the records required by this
rule may result in the disallowance of the credit claimed.
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04.
Unitary Taxpayers. Corporations claiming broadband equipment investment credit must provide a
calculation of the credit earned and used by each member of the combined group. The schedule must clearly identify
shared credit and the computation of any credit carryovers.
(4-6-23)
05.
Credit Transferred. A taxpayer that transfers the broadband equipment investment credit is to
continue to be subject to the record-keeping requirements of this rule for as long as the credit may be carried over by
the transferee or until further assessment or deficiency determinations are barred by a period of limitation, whichever
is longer.
(4-6-23)