Idaho companies won't get biz equipment tax break
| August 29, 2008 |  View for printing |
State businesses won't get a $17 million personal property tax break in 2009 because Idaho's general fund, in the just-concluded fiscal year, grew less than the 5 percent target needed for the relief to take effect.
The general fund grew only 3.46 percent, to $2.9 billion, according to Idaho State Controller Donna Jones, as Idaho's economy began faltering in late 2007. The general fund includes revenue from the sales tax, state income tax for corporations and individuals and taxes on beer, wine, liquor and cigarettes.
The proposed break _ to allow Idaho businesses to exempt the first $100,000 worth of computers, fork lifts and office equipment _ would have eliminated personal property tax payments for about 60,000 Idaho businesses and reduced them for the rest of the state's companies. It was due to begin in the calendar year starting Jan. 1.
By JOHN MILLER
Full Story: http://www.magicvalley.com/articles/ ... 2rld4g0.txt 
No reader comments so far. Be the first to comment by clicking the button below.
Reprinted under the Fair Use doctrine of international copyright law. Full copyright retained by the original publication. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
