Category: Idaho

Idaho Credits and Incentives

As we’ve mentioned before, our Georgia clients frequently ask us to investigate potential credits and incentives in other states where they have operations, potential acquisitions or strong relationships with customers or vendors. In addition, private equity groups ask us about potential $$ for their portfolio companies.
We were recently asked about credits and incentives in Idaho, and their state economic development professionals gave us some details (Idaho incentives site click here).
For starters — CNBC ranked Idaho #15 in their 2016 America’s Top States for Business survey (Georgia was #8 in the same survey). In that same survey, Idaho is ranked #49 for Education and #28 in Workforce, so those kept them from being near the top.
Idaho Tax Reimbursement Incentive:
  • tax credit of up to 30% on income, payroll, and sales taxes for up to 15 years.
  • broad range of industries including aerospace, agriculture, food processing, and high-tech
  • open to existing Idaho businesses looking to expand and businesses new to Idaho.
  • Companies in rural areas must create 20 new jobs, and those in urban centers must create 50.

Idaho 3% Investment Tax Credit:  all new depreciable, tangible, personal property (machinery and equipment) used in Idaho.

Workforce Development Training Reimbursements:  Receive up to $3,000 per job for training new or current full time employees.

Idaho Business Advantage:  $500K investment with 10 new high wage jobs can generate another set of income tax credits, property tax exemptions, and sales tax rebates.

Compared to Georgia, Idaho has:
  • Higher corporate and higher personal income tax rates
  • A slightly narrower range of incentives
  • Pre-approval required for all incentives
To summarize, Idaho is competitive with other states for income tax credits and other incentives, plus you can’t beat the beautiful Northwest location.