US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3022O.  ADJUSTMENT -- PROPERTY ACQUIRED AFTER SEPTEMBER 10, 2001 --
EXPENSES OF ELEMENTARY AND SECONDARY TEACHERS -- SMALL BUSINESS EXPENSES --
LIMITATIONS ON ASSESSMENTS AND REFUNDS. For taxable years commencing on and
after January 1, 2001, in computing Idaho taxable income:
    (1)  The adjusted basis of depreciable property, depreciation and capital
gains and losses shall be computed without regard to subsection (k) of section
168 of the Internal Revenue Code; and
    (2)  No deduction shall be allowed relating to expenses of elementary and
secondary teachers otherwise allowable under section 62(a)(2)(D) of the
Internal Revenue Code; and
    (3)  When, in regard to property subject to this section, the adjusted
basis of depreciable property, depreciation and capital gains and losses
resulting from the provisions of this section (as previously reported by the
taxpayer or as adjusted by the state tax commission) are subject to change or
adjustment by the taxpayer or by the state tax commission, a claim for refund
or notice of deficiency determination for amounts resulting from the changes
shall be made within the greater of the time provided in sections 63-3068 and
63-3072, Idaho Code, or the useful life of the property to which the
adjustment relates.