Economic Incentives & Tax Credits
High impact incentives for small businesses in Idaho
Idaho’s economy is powered by a blend of industries that brings about stability, collaboration and innovation. Idaho’s manufacturers employ nearly 6% of the state’s total workforce and contribute more than $9.7 billion of Idaho’s GDP. Idaho is a business-friendly state with low taxes, limited regulation and efficient and reliable infrastructure. Idaho has a skilled and educated workforce, ensuring you’ll have the talent you need for your business. Idaho offers easy access to key markets, with major rail lines, access to key seaports and major air hubs.
Top tax incentive programs for small and medium-sized businesses in Idaho
Idaho Business Advantage
Businesses that invest at least $500,000 in new facilities and create at least 10 new jobs paying $40,000 annually plus benefits, with additional jobs paying an average of $15.50 per hour during project period, are eligible for this tax incentive.
Idaho College Savings Program Employer Tax Credit
Employers are eligible to receive a 20% tax credit for contributions made to an employee’s IDeal college savings account.
Idaho Tax Reimbursement Incentive
The Tax Reimbursement Incentive program can make your move one of the best things to ever happen to your bottom line. You can receive a tax credit of up to 30% on income, payroll and sales taxes for up to 15 years
Idaho Semiconductors for America Act
The Idaho Semiconductors for America Act provides qualifying Idaho semiconductor companies with a sales and use tax exemption on the purchase of qualifying construction and building materials.
Data Center Sales Tax Exemption
Beginning July 1, 2020, new data centers choosing to locate in Idaho will be eligible for sales tax exemption on server equipment as well as construction materials used in the construction of the data center facility.
3% Investment Tax Credit
An investment tax credit on all new depreciable, tangible, personal property (machinery and equipment) used in Idaho.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.