R&D Tax Credit Available:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Idaho Tax Return
Data Required to Compute Credit:
- Claim Period Idaho Qualified R&D Expenses (QREs)
- Gross Receipts for Prior 4 Years
R&D Credit Summary:
The R&D tax credit equals 5% of the amount that the taxpayer's current year QREs exceed a base amount.
- The ID credit does not include the calculation of the alternative simplified credit (ASC method)
- A corporation who is a member of a unitary group must claim the Idaho research credit to the extent allowable against its state income tax before it can share the credit with other members.
- Idaho Fixed Base Percent (FBP) for start-up companies includes only qualified research expenses conducted in the state and aggregate gross receipts will include only Idaho gross receipts