Bill
Bill > H0445
ID H0445
ID H0445Amends existing law to revise provisions regarding the accrual of interest on income and sales tax deficiencies.
summary
Introduced
01/30/2024
01/30/2024
In Committee
02/15/2024
02/15/2024
Crossed Over
02/12/2024
02/12/2024
Passed
03/15/2024
03/15/2024
Dead
Signed/Enacted/Adopted
03/21/2024
03/21/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO TAX DEFICIENCIES; AMENDING SECTION 63-3045, IDAHO CODE, TO REVISE PROVISIONS REGARDING THE ACCRUAL OF INTEREST ON INCOME TAX DEFI- CIENCIES AND TO MAKE A TECHNICAL CORRECTION; AMENDING SECTION 63-3632, IDAHO CODE, TO REVISE PROVISIONS REGARDING THE ACCRUAL OF INTEREST ON SALES TAX DEFICIENCIES; AND DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.
AI Summary
This bill amends existing Idaho law to revise the provisions regarding the accrual of interest on income tax and sales tax deficiencies. Specifically, it states that interest on income tax deficiencies shall not accrue during certain time periods, such as when the state tax commission is initiating an audit or when a notice of deficiency determination is subject to a taxpayer's protest. Additionally, the bill aligns the interest calculation for sales tax deficiencies with the provisions for income tax deficiencies. The bill declares an emergency and provides for retroactive application to January 1, 2024.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
Reported Signed by Governor on March 20, 2024 Session Law Chapter 116 Effective: Retroactive to 01/01/2024 (on 03/21/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/H0445/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0445.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0445SOP.pdf |
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