Idaho has a graduated income tax structure with seven tax brackets. For most people, their taxable income falls under several different rates – not just one rate. For example, if you are single with a taxable income of $3,136, you will pay 1.125 percent on the first $1,568, 3.125 percent on the second $1,568, and 3.625 percent on the last $1,568 that you earn. This graduated tax structure allows the tax load to be shouldered more equitably than compared with a non-graduated structure. About 50 percent of Idaho households have at least some portion of their taxable income levied at the top rate, while the rest of it is levied at lower rates. One in two Idahoans do not have any of their income levied at the top rate. This is why cuts to the top income tax rates generate lopsided tax benefits.
Read the full report here: Idaho State Income Tax FAQs
Understanding the School Facilities and Tax Relief Bill of 2024
- Idahoans care about the quality of their children’s education, and the quality of the school facility where their children receive their education. However, Idaho
