Idaho Tax Commission Releases Form PTE-01, Income Tax Withheld for Nonresident Individual Pass-Through Entity Owner

The Idaho State Tax Commission Aug. 9, 2023 released Form PTE-01, Income Tax Withheld for a Nonresident Individual Owner of a Pass-through Entity, along with a voucher and instructions, for individual income tax purposes. An entity transacting business in Idaho must withhold income tax for nonresident individual owners who: 1) have distributable income of $1,000 or more for the tax year; 2) aren’t included in a composite return; 3) haven’t filed an Idaho Nonresident Owner Agreement; or 4) aren’t a corporation, partnership, trust, or an estate. The instructions include information on modes of tax payment and the calculation of withholding ...