Idaho Administrative Code
Title IDAPA 35 - Tax Commission, State
Rule 35.01.01 - INCOME TAX ADMINISTRATIVE RULES
Section 35.01.01.799 - PRIORITY ORDER OF CREDITS AND ADJUSTMENTS TO CREDITS
Universal Citation: ID Admin Code 35.01.01.799
Current through September 2, 2024
Section 63-3029P, Idaho Code
01. Tax Liability. Tax liability is the tax imposed by Sections 63-3024, 63-3025, and 63-3025A, Idaho Code.
02. Nonrefundable Credits. A nonrefundable credit is allowed only to reduce the tax liability. A nonrefundable credit not absorbed by the tax liability is lost unless the statute authorizing the credit includes a carryover provision. Nonrefundable credits apply against the tax liability in the following order of priority:
a. Credit for taxes paid to other states as authorized by Section 63-3029, Idaho Code;
b. For part-year residents only, the grocery credit as authorized by Section 63-3024A, Idaho Code;
c. Credit for contributions to Idaho educational institutions as authorized by Section 63-3029A, Idaho Code;
d. Investment tax credit as authorized by Section 63-3029B, Idaho Code;
e. Credit for contributions to Idaho youth facilities, rehabilitation facilities, and nonprofit substance abuse centers as authorized by Section 63-3029C, Idaho Code;
f. Credit for equipment using postconsumer waste or postindustrial waste as authorized by Section 63-3029D, Idaho Code;
g. Promoter-sponsored event credit as authorized by Section 63-3620C, Idaho Code;
h. Credit for Idaho research activities as authorized by Section 63-3029G, Idaho Code;
i. Broadband equipment investment credit as authorized by Section 63-3029I, Idaho Code; and
j. Small employer investment tax credit as authorized by Section 63-4403, Idaho Code.
k. Small employer real property improvement tax credit as authorized by Section 63-4404, Idaho Code.
l. Small employer new jobs tax credit as authorized by Section 63-4405, Idaho Code.
m. Credit for live organ donation expenses as authorized by Section 63-3029K, Idaho Code.
n. Idaho child tax credit as authorized by Section 63-3029L, Idaho Code.
o. Credit for employer contributions to employee's Idaho college savings program account as authorized by Section 63-3029M, Idaho Code.
03. Adjustments to Credits.
a. Adjustments to the amount of a credit earned is determined pursuant to the law applicable to the taxable year in which the credit was earned.
b. Adjustments to the amount of a credit earned may be made even though the taxable year in which the credit was earned is closed due to the statute of limitations. Such adjustments to the earned credit also applies to any taxable years to which the credit was carried over.
c. If the taxable year in which the credit was earned or carried over to is closed due to the statute of limitations, any adjustments to the credit earned does not result in any tax due or refund for the closed taxable years. However, the adjustments may result in tax due or a refund in a carryover year if the carryover year is open to the statute of limitations.
Effective April 6, 2023
Disclaimer: These regulations may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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