Another Idea to Lower Idaho’s Income Tax
BOISE, Idaho (AP) — A House tax hawk wants to trim Idaho’s income tax by $126 million over six years, arguing the move would make the state more attractive for businesses. The Spokesman-Review reports House Majority Leader Mike Moyle of Star pitched the plan Tuesday in the House Revenue and Taxation Committee. There have been any number of tax-slicing ideas floated this session, and Moyle’s is the latest. He’d cut Idaho’s top individual and corporate income tax rate to 6.8 percent, from the current 7.4 percent. That’s less than neighboring Montana’s 6.9 percent income tax rate. The hit to Idaho’s general fund would be roughly $21 million annually, starting in 2015 and increasing by the same amount in each of the next six years. The tax panel voted to give the measure a hearing.