Lower taxes bolster business.
Here’s a bold idea: Why not bolster business by cutting taxes? We know it works because Idaho has done exactly that. In 2013, we exempted more than 90% of Idaho’s businesses from paying personal property tax. In 2021, Idaho lowered its top tax rate to just 6.5%, making it more competitive and attractive to businesses. Furthermore, Idaho simplified its tax code, cutting the number of income brackets from seven to five.
While many states had to raise revenues to cover budget shortfalls, Idaho’s budget remains balanced. We believe in trimming spending rather than raising taxes, and now we’re rewarding Idaho taxpayers by easing their burden even more.
Businesses find certainty in Idaho. They know they can count on a stable tax environment where they don’t have to worry about their taxes increasing. In fact, with a 1.5% property tax and 6% general sales tax, Idaho has the lowest per capita tax burden of any state.
Here are a few more ways Idaho’s approach to taxes can work for you.
New Job Tax Credit
Up to $3,000 per new job created.
Property Tax Exemption
A full or partial property tax incentive granted by the county commissioners where the project is located.
Like what you see? Get the full details about Idaho’s tax landscape by reviewing the Idaho Tax Commission Annual Report.
The Idaho Commerce team can conduct a comprehensive comparison of your tax burden in addition to your other business costs like utilities, workforce and logistics. Use the form below to contact us and see how much you’d save by locating in Idaho.