Idahoans to start receiving tax rebates under Gov. Little’s tax relief package
BOISE, Idaho (KMVT/KSVT) —Idahoans will begin receiving direct deposits or mailed checks in the form of income tax relief starting next week following the passage of Governor Brad Little’s historic tax relief package earlier this year.
The refunds are part of Governor Little’s “Building Idaho’s Future” plan to use a record budget surplus for tax relief. The amount you will receive will be based on whichever is greater for you:
- $50 per taxpayer and each dependent
- 9% of the tax amount reported on Form 40, line 20, or line 42 for eligible Idaho residents and service members using Form 43.
For more information on the tax rebates, visit the Idaho State Tax Commission website.
“Idaho’s economy continues to blow past projections. We are leading the country in economic prosperity. This year, we achieved the single largest tax cut in state history! We’ve returned your tax dollars with our record budget surplus,” Little said. “These tax cuts boost Idahoans’ prosperity, and they keep our tax rates competitive and our business climate vibrant.”
The money will come from the single largest income tax cut in state history – $445 million, including $163 million in permanent, ongoing income tax cuts, and $8 million in ongoing property tax cuts offset by the General Fund.
“Curbing government spending should be the perpetual mission of public servants. Returning taxpayer dollars should always be our goal,” Little said.