Idaho Tax Commission Releases Form 49ABE, Affected Business Entity Investment Tax Credit Schedule, Instructions

The Idaho State Tax Commission Dec. 30, 2022 released Form 49ABE - Schedule, Affected Business Entity Investment Tax Credit, along with instructions, for corporate income and individual income tax purposes. Form 49ABE must be used to calculate the investment tax credit (ITC) earned or allowed for the affected business entity. The commission includes information on: 1) qualifying depreciable property; 2) nonqualifying property; 3) the method of computing the ITC when the property is used both inside and outside Idaho; 4) computation of the ITC carryover on Form 49C; and 5) the election to claim the two-year property tax exemption instead ...