H06762018 Regular Session
Amends existing law to provide for intangible personal property held at least twelve months under the definition of “qualifying property” for capital gains purposes.
INCOME TAXATION -- Amends existing law to provide for intangible personal property held at least twelve months under the definition of “qualifying property” for capital gains purposes.
IntroducedIn CommitteeFloor VoteEnacted
STATEMENT OF PURPOSE
▶ Show statement of purpose▼ Hide statement of purpose
This legislation allows taxpayers to deduct 60% of the capital gain net income from the sale or exchange of intangible personal property held at least twelve (12) months.
LATEST ACTION
Reported Printed and Referred to Revenue & Taxation
BILL INFO
- Session
- 2018
- Chamber
- house
- Status date
- Mar 9, 2018
RELATED BILLS
Similar bills
H0449Amends existing law to provide that capital gains and losses on precious metal bullion and monetized bullion sales be added to or subtracted from Idaho taxable income under certain circumstances.H0355Amends existing law to clarify what the term “Internal Revenue Code” means for state income tax purposes and to provide adjustments to taxable income for corporations.H0451Amends existing law to provide an income tax credit for charitable contributions made to medical residency placement organizations accredited by the Accreditation Council for Graduate Medical Education or the American Osteopathic Association or their designated nonprofit support organizations based in Idaho and devoted to training residents in Idaho.H0515Amends existing law to provide that the addition to taxable income for a nonqualifed withdrawal from a college savings plan is limited to contributions previously exempt from Idaho state income tax and earnings generated from the program as long as the earnings are not already included in federal adjusted gross income.