Legislation has been enacted that lowers the Idaho personal and corporate income tax rates beginning with the 2012 tax year. The maximum individual income tax rate imposed upon individuals with Idaho taxable income above specified levels is decreased from 7.8% to 7.4%, and the corporate income tax rate is reduced from 7.6% to 7.4%.
Ch. 321 (H.B. 563), Laws 2012, effective January 1, 2012