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Taxes

Below are the most common taxes a small business or business owner may be required to pay listed by the agencies that assess them. Your business may be eligible for a tax credit or incentive for certain business activities. Agencies offering tax credits are also listed below.

Americans with Disabilities Act

Tax Incentives​ and deductions

Idaho Department of Commerce

Tax Incentives

Idaho Department of Insurance

Idaho Department of Labor

Idaho Industrial Commission

  • Workers Compensation Premium Tax – Paid by insurance companies offering workers comp insurance
  • Self-insured Employer Premium Tax – Paid by companies that self-insure workers comp coverage (only available to very large corporations). Contact your nearest IIC office for details.

Idaho State Tax Commission

Estimated Taxes

Income Taxes

Sales and Use Taxes

Internal Revenue Service

Estimated Taxes

   Income Tax – Business and Personal

    Other Taxes and Tax-related Issues

Section 179

Depreciation Deduction on qualified equipment purchases

U.S. Department of the Treasury Alcohol & Tobacco Tax and Trade Bureau (TTB)

Alcohol, Cigarette and Tobacco, Firearms and Ammunition Tax

Property Tax (real estate and personal property)

Property taxes are established and collected by individual counties and taxing districts, not by the state. The collected funds are used to finance local services, such as roads, schools and libraries. Two types of property tax are collected.

Personal property tax is assessed on the value of depreciable assets owned by a business, including machinery, equipment, office equipment, software and more. The tax is paid annually or semi-annually in December and June to your local county assessor. The first $100,000 of a business’s personal property is exempt from taxation.

Real estate property tax is collected on the assessed value of real estate (real property) owned by a business or an individual. Real estate taxes are paid annually or semi-annually in December and June to your local county assessor.

Important: Personal property tax is not in any way related to income tax. If you own a business, you may owe property tax. The tax must be paid even if your business has no income or does not owe income tax. Failure to pay property tax can result in a lien being filed against business real estate and/or equipment.

Tax Calendar
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