Bill > H0589

This bill amends Idaho law to revise income tax rates for individuals, estates, trusts, and corporations, with separate effective dates for the changes. Specifically, for individuals, estates, and trusts, the tax rate on taxable income over certain thresholds will increase from 5.3% to 5.695% starting January 1, 2027, while the original 5.3% rate will be reinstated for taxable income over the same thresholds starting January 1, 2028. For corporations, the bill adjusts the tax rate schedule, ultimately setting the rate at 5.3% starting January 1, 2025, and then increasing it to 5.695% starting January 1, 2027, before returning to 5.3% on January 1, 2028. The bill also repeals and reenacts existing sections to reflect these changes, with the individual tax rate adjustments taking effect on January 1, 2027, and the corporate tax rate adjustments taking effect on January 1, 2028.

https://legislature.idaho.gov/sessioninfo/2026/legislation/H0589/