2005 Idaho Code - 63-3002 — DECLARATION OF INTENT

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3002.  DECLARATION OF INTENT. It is the intent of the legislature by
the adoption of this act, insofar as possible to make the provisions of the
Idaho act identical to the provisions of the Federal Internal Revenue Code
relating to the measurement of taxable income, to the end that the taxable
income reported each taxable year by a taxpayer to the internal revenue
service shall be the identical sum reported to this state, subject only to
modifications contained in the Idaho law; to achieve this result by the
application of the various provisions of the Federal Internal Revenue Code
relating to the definition of income, exceptions therefrom, deductions
(personal and otherwise), accounting methods, taxation of trusts, estates,
partnerships and corporations, basis and other pertinent provisions to gross
income as defined therein, resulting in an amount called "taxable income" in
the Internal Revenue Code, and then to impose the provisions of this act
thereon to derive a sum called "Idaho taxable income"; to impose a tax on
residents of this state measured by Idaho taxable income wherever derived and
on the Idaho taxable income of nonresidents which is the result of activity
within or derived from sources within this state. All of the foregoing is
subject to modifications in Idaho law including, without limitation,
modifications applicable to unitary groups of corporations, which include
corporations incorporated outside the United States.