Internal revenue code, definition
TAXATION – Amends existing law to update the definition of “Internal Revenue Code.”

RS29934 / H0006

This bill relates to income taxes. Idaho conforms to the calculation of federal taxable income. The Idaho income tax code is currently tied to the internal revenue code as of January 1, 2022. This bill would move that date to January 1, 2023 to conform to any changes to the IRC during 2022. It is the annual bill to update references to the Internal Revenue Code (IRC). The bill conforms the Idaho income tax code to changes made to the IRC that affect the 2022 tax year. The Idaho income tax code uses federal taxable income as a starting point for both businesses and individuals. Our tax forms use federal adjusted gross income as a starting point. Idaho uses a static conformity to a specific date, currently January 1, 2022. This bill updates Idaho Code section 63-3004, to January 1, 2023. Using federal taxable income as a starting point saves a tremendous amount of duplicate work. The Idaho Legislature can still decide to which items it will conform to. Not conforming at all would cause a lot of extra work and confusion for individuals, businesses, and the tax preparation industry.

Bill Events
Date Description
01/18 Introduced, read first time, referred to JRA for Printing
01/19 Reported Printed and Referred to Revenue & Taxation
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