Idaho Bills
2 bills · 2020 Regular Session
H0550house✓ Signed
Adds to existing law to provide for an income tax credit for employers who contribute to an employee's college savings program account.
Enacted
31 – 1
H0602house
Amends existing law to provide that capital gains and capital losses on sales of precious metals bullion and monetized bullion be excluded from Idaho taxable income.
The framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to report nominal capital "gains" and "losses" when exchanging this form of money for Federal Reserve Notes. Idaho already exempts precious metal sales from the sales tax. This bill will exempt the sale of precious metals bullion from being subject to capital gains.
Introduced