Amends existing law to revise provisions regarding Idaho taxable income.

This bill involves income tax. This is a trailer bill to HB 58 which conformed to the Internal Revenue Code (IRC) as of January 1, 2021 except for the removal of the noncorporate loss limitations in IRC 461(l). This protects Idaho taxpayers from losing excess losses subject to the limitation and allows them to carry those excess losses forward as an NOL (net operating loss) for up to 20 years.