Taxes on Business Income in Idaho

April 13, 2006

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In discussing the major types of income taxes that affect small businesses, our intent is to give you a general understanding of when the various taxes will apply to you and what they will mean to your business.

Income tax on business income computed based upon corporate taxable net income is required in Idaho. Although domestic and foreign corporations and limited liability companies are required to file annual reports with the Secretary of State in Idaho, there is no fee for filing the report, and there are no other franchise taxes in the state.
Personal income tax, based on a person's income during the tax year, ranges from 1.6 percent to 7.8 percent of taxable income in Idaho.