H0519

Updates Idaho tax code references to the Internal Revenue Code and revises tax credits for capital investments and research activities.

This bill amends the Idaho tax code to update references to the Internal Revenue Code and revises tax credits for capital investments and research activities. It specifies that the Internal Revenue Code is applied as in effect on January 1, 2020, for certain sections. The bill revises the income tax credit for capital investments, allowing a credit of up to 3% of qualified investments. It also revises the credit for research activities conducted in Idaho, allowing a credit of 5% of the excess of qualified research expenses over a base amount and 5% of basic research payments.