POPULATION: 1,466,465 (2006)
LABOR FORCE: 749,244 (2006)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Agriculture and food processing, manufacturing, high-tech
EXPANDING INDUSTRIES:
Health services, business services, semiconductor and other electronic manufacturing, retail trades, construction, alternative energy
COLLEGE GRADUATES: (Age 25 and over) 23.3% (2005)
BASIC BUSINESS TAXES:
Corporate Income Tax: 7.6 percent of taxable income with a $20 minimum
Corporate Organization and Qualification Fees: $100 for articles of incorporation or certificate of authority
Sales and Use Tax: (As of October 1, 2006) 6 percent of retail sales price of taxable property; use tax of 6 percent on value of property if not taxed at the point of sale
Property Tax: No state property tax. However, counties and municipal jurisdictions have varying property tax rates; real property is assessed at 100 percent of market value; rates vary among county and municipal jurisdictions; on average, property taxes will decrease 20 percent by the end of 2006
BUSINESS INCENTIVES:
Tax Increment Financing
Community Development Block Grants
Workforce Development Training Fund
New Jobs Tax Credit
Investment Tax Credit
Industrial Revenue Bonds
Idaho Business Advantage
Idaho Corporate Advantage
Rural Business Development Grants
Goods-in-Transit Exemption
Research & Development Tax Credit
Pollution Equipment Exemption
Production Equipment Exemption from Idaho Sales and Use Tax
Sales Tax Exemption (industrial fuels and raw materials)
R&D Income Tax Credit
R&D Sales Tax Credit
Net Operating Loss Deductions
Prime Rate Loans