Idaho Tax Relief Payments Head Out First Week of August
TWIN FALLS, Idaho (KLIX)-The Idaho Tax Commission will begin issuing tax rebate payments to qualified Idaho citizens beginning August 2. Gov. Brad Little announced citizens will begin receiving either direct deposit or checks for income tax relief which was part of the governor's tax relief package passed earlier this year. The refunds are the result of a record budget surplus as Idaho's economy keeps going past projections, according to the governor.
The governor said in a statement that this is the single largest income tax cut in Idaho's history at $445 million for individuals and businesses. He also noted $163 million has been cut in permanent and ongoing income tax cuts along with $8 million in ongoing property tax cuts thanks to the General Fund.
Who is will be getting a tax Refund? According to the Idaho Tax Commission, anyone who was a full-year resident of the state and filed an individual income tax return or grocery tax credit refund in those years. The rebate will range anywhere from $50 for each individual and dependent to 9 percent of the tax amount reported on Form 40, line 20, or line 42. For more information go to the Idaho Tax Commission Website.