TAXATION – Amends House Bill 40, House Bill 304, and existing law to revise provisions regarding certain tax deductions, certain corporate income tax rates, certain protections for taxpayers, and certain sales tax distributions and to revise an effective date.

This Idaho bill (H 435) amends multiple tax laws to revise key provisions affecting taxpayers and businesses. It updates rules for determining property market value used in assessments, modifies deductions for military retirement pay (allowing full deduction regardless of age/disability for eligible recipients), and changes corporate income tax rates and timelines for tax assessments. The bill also adjusts interest accrual rules, extends periods for tax collection, and revises how sales tax funds are distributed to local governments. These changes directly impact Idaho residents filing state taxes, property owners, businesses subject to corporate income tax, and local governments receiving sales tax revenue.