2005 Idaho Code - 63-3024 — INDIVIDUALS\' TAX AND TAX ON ESTATES AND TRUSTS

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3024.  INDIVIDUALS' TAX AND TAX ON ESTATES AND TRUSTS. For taxable year
2001, and each taxable year thereafter, a tax measured by Idaho taxable income
as defined in this chapter is hereby imposed upon every individual, trust, or
estate required by this chapter to file a return.
    (a)  The tax imposed upon individuals, trusts and estates shall be
computed at the following rates:
When Idaho taxable income is:   The rate is:
Less than $1,000                One and  six-tenths percent (1.6%)
$1,000 but less than $2,000     $16, plus  three and  six-tenths
                                percent (3.6%) of the amount over $1,000
$2,000 but less than $3,000     $52, plus four and   one-tenth
                                percent (4.1%) of the amount over $2,000
$3,000 but less than $4,000     $93, plus five and   one-tenth
                                percent (5.1%) of the amount over $3,000
$4,000 but less than $5,000     $144, plus six and   one-tenth
                                percent (6.1%) of the amount over $4,000
$5,000 but less than $7,500     $205, plus seven and   one-tenth
                                percent (7.1%) of the amount over $5,000
$7,500 but less than $20,000    $383, plus seven and  four-tenths
                                percent (7.4%) of the amount over $7,500
Over $20,000                    $1,308, plus  seven
                                and eight-tenths percent
                                (7.8%) of the amount over $20,000
    For taxable year 2000 and each year thereafter, the state tax commission
shall prescribe a factor which shall be used to compute the Idaho income tax
brackets provided in  subsection (a) of this section. The factor shall provide
an adjustment to the Idaho tax brackets so that inflation will not result in a
tax increase. The Idaho tax brackets shall be adjusted as follows: multiply
the bracket amounts by the percentage (the consumer price index for the
calendar year immediately preceding the calendar year to which the adjusted
brackets will apply divided by the consumer price index for calendar year
1998). For the purpose of this computation, the consumer price index for any
calendar year is the average of the consumer price index as of the close of
the twelve (12) month period for the immediately preceding calendar year,
without regard to any subsequent adjustments, as adopted by the state tax
commission. This adoption shall be exempt from the provisions of chapter 52,
title 67, Idaho Code. The consumer price index shall mean the consumer price
index for all U.S. urban consumers published by the United States department
of labor. The state tax commission shall annually include the factor as
provided in this subsection to multiply against Idaho taxable income in the
brackets above to arrive at that year's Idaho taxable income for tax bracket
purposes.
    (b)  In case a joint return is filed by husband and wife pursuant to the
provisions of section 63-3031, Idaho Code, the tax imposed by this section
shall be twice the tax which would be imposed on one-half (1/2) of the
aggregate Idaho taxable income. For the purposes of this section, a return of
a surviving spouse, as defined in section 2(a) of the Internal Revenue Code,
and a head of household, as defined in section 2(b) of the Internal Revenue
Code, shall be treated as a joint return and the tax imposed shall be twice
the tax which would be imposed on one-half (1/2) of the Idaho taxable income.
    (c)  In the case of a trust that is an electing small business trust as
defined in section 1361 of the Internal Revenue Code, the special rules for
taxation of such trusts contained in section 641 of the Internal Revenue Code
shall apply except that the maximum individual rate provided in this section
shall apply in computing tax due under this chapter.
    (d)  The state tax commission shall compute and publish Idaho income tax
liability for taxpayers at the midpoint of each bracket of Idaho taxable
income in fifty dollar ($50.00) steps to fifty thousand dollars ($50,000),
rounding such calculations to the nearest dollar. Taxpayers having income
within such brackets shall file returns based upon and pay taxes according to
the schedule thus established. The state tax commission shall promulgate rules
defining the conditions upon which such returns shall be filed.