State Tax Laws - Idaho

Personal tax rates range from 1.6% to 7.4%. The personal exemption is a generous $3,500 for single, $7,300 for married couples, and $3,500 for each extra dependent. The standard deduction is $5,450 or double that for married couples. Idaho does not tax social security, and has many pension related exemptions. There is no estate tax in Idaho.

Corporate tax rates are a flat 7.4%, and is a rather simple and straightforward tax system as both business and personal taxes in general conform to the federal law. There are no annual fees to pay when filing the annual reports. Sales tax is 6% with some localities especially resort towns charging an extra 3%. Business tax info is available at: http://tax.idaho.gov/i-1132.cfm For forming businesses and annual report filing please see: http://sos.idaho.gov/


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