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INCENTIVE DESCRIPTION
| State: | ID |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | Jobs Credits |
| Description: | 1. JOBS INCOME TAX CREDIT An income tax credit against income tax liability is allowed for businesses that create new employment. A $500 credit is allowed for new employees making less than $15.50/hour. A $1000 credit is allowed for new employees making an average hourly wage of $15.50 or more. The credit shall not exceed 3.25% of the net income tax liability. This credit an all other credits can not exceed 50% of the income tax liability. At least one new job must be created. The credit may be carried forward for 3 years. 2. CORPORATE HEADQUARTERS INCENTIVE ACT A credit of 6% against income tax liability is allowed for new headquarters jobs. The credit amount will range from $1,500 to $3,000 per new employee based upon the defined average hourly wage for each credit amount. The 50% credit limitation does not apply. 3. NEW JOBS INCOME-TAX CREDIT of $500 is available per new job created by businesses that produce, assemble, fabricate, manufacture, or process natural resource products. May not be combined with the $1000 new jobs tax credit. 4. SMALL EMPLOYER JOBS CREDIT A credit not to exceed 62.5% of income tax liability is allowed for the creation of new jobs. The credit per new job ranges from $1,500 to $3,000 based upon meeting the minimum wage threshold for each credit amount. |
| Eligibility Requirements: | 1. Must be an eligible business creating at least one job meeting required wage thresholds. 2. Must be a qualified headquarters meeting wage thresholds, Must have an increase in number of new jobs. 3. Must be a qualified business meeting all qualifying criteria for natural resource products. 4. Must be an eligible small business creating at least one new job. Must meet wage thresholds for each credit category. This credit excludes the normal job credit. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | State of Idaho |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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