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. Effective in 2023, Idaho lowered its corporate and top personal income tax rate to just 5.8%, making it more competitive and attractive to businesses. Furthermore, in 2022, Idaho moved from a three-factor cost of performance to a single-factor market-based sourcing state.
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 an average urban property tax of 1.04% an average rural property tax of .697% and 6% general sales tax, Idaho has the lowest per capita tax burden of any state.
Learn more about all that Idaho has to offer by checking out our incentives and grants below.
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.