POPULATION: 1,584,985 (2011)
LABOR FORCE: 775,015 (2012)
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/
renewable energy, aeronautics,
firearms, recreational
technology, food processing
COLLEGE GRADUATES: (Age 25 and over) 24.4% (2010)
BASIC BUSINESS TAXES:
Corporate Income Tax: 7.4 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, 2009) 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; 2009
average of 1.086 percent
BUSINESS INCENTIVES:
Tax increment financing
Community Development
Block Grants
Hire One Refundable Income
Tax Credit
Workforce Development
Training Fund
New Jobs Tax Credit
Investment Tax Credit
Industrial revenue bonds
Idaho Business 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
Manufacturing investment
property tax exemption
Large business property tax cap
