Tax & Rate Information
Sales and Use Tax is 6%
Sales and Use Tax is applicable to items purchased or consumed in Idaho. Certain exemptions apply.
Idaho does not tax services including telecommunication services, and utilities such as water, gas, electricity, or natural gas; additionally, in our region we do not have any local option Sales Tax.
Property Tax (Ada County) is 1%-1.8%
Personal (machinery/equipment) and Real (land/building) - based on market value
Idaho DOES NOT have an Inventory Tax.
Corporate Income Tax is Computed at 7.4%
Corporations that are taxable in Idaho and another State or Country or part of a unitary group of corporations, use a three-factor formula to ascertain how much of the business is conducted in Idaho.
The apportionment formula is made up of a property factor, a payroll factor, and a sales factor. These three factors, with the sales factor being double weighted for all taxpayers (except for electrical and telephone companies) are totaled and divided by four to compute the Idaho apportionment factor.
The Idaho apportionment factor is then applied to the business income of the corporation to compute income assigned to Idaho. Non-business income allocable to Idaho is added to the income apportioned to Idaho to arrive at Idaho taxable income.
State Unemployment Insurance (SUI) Rate is 1.488%
Personal Income Tax Rate
Idaho Income Tax is based on a bracketed system with different rates applicable to individuals with different income levels
(rates are between 1.6% - 7.4%)
Property Tax Exemption
#2 Best State for Property Tax Rates, 2013 Foundation Study
The first $100,000 of personal property is exempt from taxation.
Minimum Wage Rate (Per Hour) $7.25
Union Membership in Idaho is 4.7%
(National avg. is 11.3%)