2005 Idaho Code - 63-3022F — COMPUTATION OF TAX WHERE TAXPAYER RESTORES SUBSTANTIAL AMOUNT HELD UNDER THE CLAIM OF RIGHT

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3022F.  COMPUTATION OF TAX WHERE TAXPAYER RESTORES SUBSTANTIAL AMOUNT
HELD UNDER THE CLAIM OF RIGHT. In the case of a taxpayer who is entitled to a
reduction in federal tax due to the restoration of an item of gross income
under section 1341 of the Internal Revenue Code (relating to the computation
of tax where the taxpayer restores a substantial amount held under claim of
right), there shall be allowed a deduction in determining Idaho taxable income
as provided in section 1341(a)(4) of the Internal Revenue Code, if not
otherwise deducted by the taxpayer for Idaho income tax purposes. In computing
the deduction allowable under this section, no deduction shall be allowed if
the item of gross income for a prior taxable year was not included in Idaho
taxable income.