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Idaho credit for qualifying new employees - Idaho State Tax

Idaho credit for qualifying new employees - Idaho State Tax 2025

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The document outlines the Idaho Credit for Qualifying New Employees, detailing eligibility criteria and calculation methods for tax credits available to businesses hiring new employees. It specifies two credit amounts: $500 for employees in revenue-producing enterprises and $1,000 for those meeting higher wage and health coverage standards. The form includes instructions on calculating qualifying employee averages, credit limitations based on net income, and carryover provisions for unused credits.

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Click ‘Get Form’ to open the Idaho Credit for Qualifying New Employees form in the editor.
Begin by entering your name(s) as shown on your tax return and your Social Security Number or EIN at the top of the form.
In Part I, assess if you qualify for the credit. If you are a revenue-producing enterprise, you may claim a $500 credit per new employee. For a $1,000 credit, ensure the employee earns an average hourly wage of at least $15.50 and is eligible for health coverage.
Proceed to Part II. Calculate the average number of qualifying employees during the tax year and compare it with previous years to determine your eligible new employees.
Complete calculations in lines 5 through 12 based on your findings from Part I and II, ensuring accuracy in multiplying qualifying numbers by their respective credits.
Finally, review Part III to apply any limitations on your credits based on your total income tax and other applicable credits before submitting.

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What is the tax reimbursement incentive in Idaho?

Idaho Incentive Overview Companies creating new, high-wage jobs in Idaho can receive up to a 30% reimbursement on sales, payroll and corporate income taxes for up to 15 years. Companies must pay wages above the county average and create at least 50 new jobs in an urban area or 20 new jobs in a rural area.

What is the work Opportunity tax credit in Idaho?

WOTC is a federal income tax credit of up to $9,600 per employee that encourages employers to hire job seekers who meet the qualifications for specific targeted groups.

What is the Idaho state tax rebate?

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