Idaho § 63-3025 - Tax on corporate income

§ 63-3025. Tax on corporate income

(1) For each taxable year, a tax is hereby imposed on the Idaho taxable income of a corporation, other than an S corporation, that transacts or is authorized to transact business in this state or has income attributable to this state. The tax rate imposed by this section shall be as follows:

(a) For each taxable year, commencing on and after January 1, 2001, the tax imposed by this section shall be equal to seven and six-tenths percent (7.6%) of Idaho taxable income.

(b) For each taxable year, commencing on and after January 1, 2012, the tax imposed by this section is changed and shall be equal to seven and four-tenths percent (7.4%) of Idaho taxable income.

(c) For each taxable year, commencing on and after January 1, 2018, the tax imposed by this section is changed and shall be equal to six and nine hundred twenty-five thousandths percent (6.925%) of Idaho taxable income.

(d) For each taxable year, commencing on and after January 1, 2021, the tax imposed by this section is changed and shall be equal to six and five-tenths percent (6.5%) of Idaho taxable income.

(e) For each taxable year, commencing on and after January 1, 2022, the tax imposed by this section is changed and shall be equal to six percent (6%) of Idaho taxable income.

(f) For each taxable year, commencing on and after January 1, 2023, the tax imposed by this section is changed and shall be equal to five and eight-tenths percent (5.8%) of Idaho taxable income.

(g) For each taxable year, commencing on and after January 1, 2024, the tax imposed by this section is changed and shall be equal to five and six hundred ninety-five thousandths percent (5.695%) of Idaho taxable income.

(h) For each taxable year, commencing on and after January 1, 2025, the tax imposed by this section is changed and shall be equal to five and three-tenths percent (5.3%) of Idaho taxable income.

(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; and

(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 that the twenty-dollar ($20.00) minimum payment shall not be collected from nonproductive mining corporations.

(4) The tax imposed by this section shall not apply to corporations taxed pursuant to the provisions of section 63-3025A , Idaho Code.

[63-3025, added 2022, 1st E.S., ch. 1, sec. 7, p. 7; am. 2024, ch. 237, sec. 3, p. 825; am. 2025, ch. 13, sec. 4, p. 44; am. 2025, ch. 302, sec. 2, p. 1282.]