TAX CREDITS

Tax Reimbursement Incentive (TRI): Businesses that create new full-time jobs with wages at or above the county average may be eligible for a tax reimbursement of up to 30% of payroll, sales and income taxes for a negotiated period of up to 15 years. To qualify, companies must create at least 20 jobs in rural areas or 50 jobs in an urban setting.  Unused tax credits are refundable.

Business Advantage Tax Credits: Companies that invest at least $500,000 in a business facility and create 10 new jobs with an average salary of $40,000 are eligible to receive corporate income tax credits. Under this program, companies may also be eligible for an Enhanced Investment Tax Credit of 3.75%, a 2.5% Real Property Tax Improvement Credit (up to $125,000 in any given year), a 25% Sales Tax Rebate on construction materials, and up to a 100% Property Tax Exemption for 5 years.

Investment Tax Credit: Businesses that make qualifying new investments may earn a 3% income tax credit that can be used to offset up to 50% of a company's state income tax liability. The credit can be carried forward up to 14 years.

R&D Tax Credit: Businesses that conduct qualified research may be eligible for a 5% income tax credit that can be carried forward for up to 14 years.

GRANTS

Idaho Opportunity Fund: This $2 million program offers grants to support infrastructure development projects.

Workforce Development Training Fund: Cash grants for workforce training expenses are available to businesses that create at least 5 new jobs with wages of at least $12 an hour.  The value of the training fund incentive is up to $3,000 per job.

Infrastructure Improvement Grants:  Grants of up to $350,000 are available to help communities expand infrastructure capacity.

TAX EXEMPTIONS

Large Business Property Tax Cap: Businesses that invest at least $1 billion in capital improvements are eligible to receive property tax exemptions on all property valued in excess of $400 million.

$100,000 Personal Property Tax Exemption:  Businesses are allowed an exemption on the first $100,000 of “personal property,” such as equipment and furnishings.

Large Employer Property Tax Cap: Businesses that employ at least 1,500 employees within an Idaho county and make a yearly capital investment of $25 million within that county are eligible to receive a property tax exemption on property values in excess of $800 million.

Production Sales Tax Exemption: Businesses that purchase equipment and raw materials used directly in manufacturing, processing, mining, fabrication, logging, or semiconductor are eligible for a sales tax exemption

Sales & Use Tax Exemption: Applies to equipment used in manufacturing, processing, and mining, as well as equipment or materials used in R&D.

 

Last updated: May 2017


 
BIGGINS LACY SHAPIRO & COMPANY
 
PRINCETON
47 Hulfish Street, Suite 320
Princeton, NJ 08542
(609) 924-9775
NEW YORK
215 Park Ave South
New York, NY 10003
(646) 652-7555
CHICAGO
30 S. Wacker, Suite 2200
Chicago, IL 60606
(312) 924-2490
CALIFORNIA
1255 Treat Boulevard, Suite 300
Walnut Creek, CA 94597
(925) 239-1711