Idaho Code — Title 63 (Revenue and Taxation)
Idaho Code § 63-3025A
Franchise tax
# (1)
For taxable years commencing on and after January 1, 2001, a franchise tax shall be imposed upon any corporation, other than an S corporation, for the privilege of exercising its corporate franchise within the state during such taxable year including, but not limited to, corporations engaged in business in Idaho for the exclusive purpose of performing contracts with the United States department of energy at the Idaho national laboratory or any successor organization, which tax shall be measured by income which is attributable to this state under the provisions of this chapter and which tax shall be at the rate provided in section 63-3025 , Idaho Code.
# (2)
In the case of an S corporation that is required to file a return under section 63-3030 , Idaho Code, a tax is hereby imposed at the rate provided in subsection (1) of this section upon both:
# (a)
Net recognized built-in gain attributable to this state. The amount of net recognized built-in gain attributable to this state shall be computed in accordance with section 1374 of the Internal Revenue Code subject to the apportionment and allocation provisions of section 63-3027 , Idaho Code.
# (b)
Excess net passive income attributable to this state. The amount of excess net passive income attributable to this state shall be computed in accordance with section 1375 of the Internal Revenue Code subject to the apportionment and allocation provisions of section 63-3027 , Idaho Code.
# (3)
The tax imposed by subsection (1) or (2) of this section shall not be less than twenty dollars ($20.00); provided further that the twenty dollar ($20.00) minimum payment shall not be collected from nonproductive mining corporations; but the twenty dollar ($20.00) minimum tax shall apply to corporations qualified to file returns and actually filing returns under the provisions of subchapter "S" of the Internal Revenue Code.
Amendment history
63-3025A, added 1982, ch. 203, sec. 8, p. 536; am. 1983, ch. 221, sec. 2, p. 617; am. 1987, ch. 342, sec. 3, p. 727; am. 1995, ch. 111, sec. 21, p. 362; am. 2001, ch. 386, sec. 4, p. 1352; am. 2007, ch. 10, sec. 1, p. 10; am. 2007, ch. 15, sec. 2, p. 26.
Source: view the official text
In this chapter (40 sections)
- 63-3022G · Moneys paid to Japanese-Americans for reparations for World…
- 63-3022H · Deduction of capital gains
- 63-3022I · Adoption expenses
- 63-3022J · Deduction of value for technological equipment
- 63-3022K · Medical savings account
- 63-3022L · Individuals who are owners of an interest in a pass-through…
- 63-3022M · Expenses and interest relating to tax exempt income
- 63-3022N · Marriage penalty adjustment
- 63-3022O · Adjustment — Property acquired after September 10, 2001 —…
- 63-3022P · Health insurance costs
- 63-3022Q · Long-term care insurance
- 63-3022R · certain loss recoveries
- 63-3022S · Income earned on an Indian Reservation
- 63-3022U · deduction for certain charitable contributions
- 63-3022V · deduction for first-time home buyers
- 63-3023 · Transacting business
- 63-3024 · Individuals’ tax and tax on estates and trusts
- 63-3024A · Food tax credits and refunds
- 63-3024B · Idaho tax rebate fund
- 63-3025 · Tax on corporate income
- 63-3025A · Franchise tax
- 63-3025B · Organizations exempt from the tax imposed by this chapter
- 63-3025C · Corporations exempt from minimum tax
- 63-3025D · Payment for dependents sixty-five years of age or older or…
- 63-3026 · Computing Idaho taxable income of resident individuals,…
- 63-3026A · Computing Idaho taxable income of part-year or nonresident…
- 63-3026B · affected business entities — state and local taxation…
- 63-3027 · Computing Idaho taxable income of multistate or unitary…
- 63-3027A · Computing Idaho taxable income of corporations not subject…
- 63-3027B · Water’s-edge election
- 63-3027C · Election is binding — Treatment of dividends
- 63-3027D · Presumptions and burdens of proof
- 63-3027E · Operative dates
- 63-3029 · Credit for income taxes paid another state
- 63-3029A · Income tax credit for charitable contributions — Limitation
- 63-3029B · Income tax credit for capital investment
- 63-3029C · Income tax credit for certain charitable contributions —…
- 63-3029D · Tax credit for qualified equipment utilizing postconsumer…
- 63-3029F · claim of right income repayment adjustments
- 63-3029G · Credits for research activities conducted in this state —…