2005 Idaho Code - 63-3027E — OPERATIVE DATES

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3027E.  OPERATIVE DATES. (a) Sections 63-3027B through 63-3027E, Idaho
Code, shall be operative for the computation of taxes for the earlier of
either of the following:
    (1)  Taxable years beginning on or after January 1, 1988.
    (2)  Taxable years beginning on or after January 1 of the year after the
    year in which the board of examiners, upon advice of the attorney general,
    certifies to the tax commission that action has been taken by the United
    States, whether by statute, regulation, executive order, or any other
    means as may be appropriate, to comply substantially with the following:
         (A)  A requirement that any corporation required to file a United
         States tax return or which could be included in a consolidated
         federal tax return be required to file with the Internal Revenue
         Service a domestic disclosure spreadsheet if its payroll, property,
         or sales in a foreign country exceeds one million dollars
         ($1,000,000). The spreadsheet shall provide for full disclosure as to
         the income reported to each state, the state tax liability, and the
         method used for apportioning or allocating income to the states, and
         any other information as provided for by regulations as may be
         necessary to determine properly the amount of taxes due to each state
         and to identify the water's-edge corporate group and those of its
         affiliates of which more than twenty per cent (20%) of the voting
         stock is directly or indirectly owned or controlled by a common owner
         or owners.
         (B)  That the information filed pursuant to paragraph (2)(A) of this
         subsection will be available to qualified states. A "qualified state"
         is any state that does not require the use of the worldwide unitary
         method of taxation except in circumstances substantially similar to
         those authorized in subsection (c) of section 63-3027B, Idaho Code.
         (C)  That qualified states are authorized access to all material
         developed by the Internal Revenue Service in its examination of
         multinational operations.
    (b)  If sections 63-3027B through 63-3027E, Idaho Code, become operative
pursuant to paragraph (1) of subsection (a) of this section, the tax
commission may require, and taxpayers described in this subsection must file,
no later than six months after filing the Idaho income tax return, a
spreadsheet to provide disclosure as to the income reported for the year to
the other states that require unitary combined reporting, the tax liability
for each such state, the method used for allocating or apportioning income to
such states, the property, payroll, and destination sales of the water's-edge
corporate group in each state, and to identify the water's-edge corporate
group and those of its affiliates of which more than twenty per cent (20%) of
the voting stock is directly or indirectly owned or controlled by a common
owner or owners. The provisions of this subsection shall apply only to
corporations which both make a water's-edge election and have during the
taxable year, payroll, property or sales in a foreign country which exceeds
one million dollars ($1,000,000). Notwithstanding the requirement to file a
spreadsheet in any tax year, a taxpayer may forego filing such a spreadsheet
by submitting to the state tax commission a written declaration of its
intention to forego filing such spreadsheet for such year. In the event such
declaration is filed in any tax year, no spreadsheet shall be required of such
taxpayer and the percentage to be applied under section 63-3027C(c)(3) for
such year shall be eighty per cent (80%) rather than eighty-five per cent
(85%).