POPULATION: 1,612,136 (2013) - Source: IDAHO DEPARTMENT OF LABOR
LABOR FORCE: 776,000 (2014) - Source: IDAHO DEPARTMENT OF LABOR
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES:Agriculture and food processing, manufacturing, high-tech, wood products
EXPANDING INDUSTRIES: Health services, business services, semiconductor and other electronic manufacturing, retail trades, construction, alternative/ renewable energy, aeronautics/aerospace, firearms, recreational technology, food processing, software, advanced manufacturing - source: IDAHO DEPARTMENT OF COMMERCE
COLLEGE GRADUATES: (Age 25 and over) 25.5% (2012)
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; 2012 average of approximately 1.339 percent
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 Tax Credits
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
Manufacturing investment property tax exemption
Large business property tax cap
New Markets Tax Credit Program
Tax Reimbursement Incentive (Up to 30% for 15 years reimbursement on corporate income, personal income and sales taxes for qualified projects) - source: IDAHO DEPARTMENT OF COMMERCE
