Adds to existing law to exempt certain small sellers from sales and use taxes.
TAXATION -- Adds to existing law to exempt certain small sellers from sales and use taxes.
STATEMENT OF PURPOSE
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Currently individuals are required to get a sales tax permit, collect sales taxes and submit said taxes to the Idaho Tax Commission regardless of the volume of sales. This legislation eliminates the requirement to get a permit for sellers that have sales less than $5,000 per year. During 2023, the Tax Commission issued 10,701 permits for individuals who had sales less than $5,000 and only collected $1.2 million dollars.
FISCAL NOTE
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This legislation will save Idahoans more than $1.2 million dollars. At the same time, this legislation will decrease the General Fund by less than $1 million dollars. The Tax Commission will save significant time and resources by not having to issue, collect, process and manage more than 10,000 sales tax permits. This legislation does not request an FTP reduction at the Tax Commission because of the reduced work load.
HOW THEY VOTED
House Third Reading
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YEA (70)
NAY (0)
Senate Third Reading
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YEA (35)
NAY (0)
LATEST ACTION
Reported Signed by Governor on March 17, 2025 Session Law Chapter 86 Effective: 07/01/2025
BILL INFO
- Session
- 2025
- Chamber
- house
- Status date
- Mar 17, 2025
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