New Income Tax Credit Makes Idaho Attractive for Businesses Seeking to Expand

Partner Kris Ormseth authored an article in the Idaho Business Review titled ”Income tax credit for business pushes the job creation button.” In the article, Ormseth discusses the potential economic impact of Idaho’s newly enacted Reimbursement Incentive Act.

The law requires businesses approved for the incentive to pay all applicable state taxes up front. Then they submit appropriate evidence that their project has added the required number of jobs (20 in rural areas and 50 in urban areas) that pay at or above the average wage in order to receive reimbursement for a portion of the incremental tax revenue already collected by the state due to the new jobs.

Read “Income tax credit for business pushes the job creation button,” published August 27, 2014. (Subscription required.)