- Statewide: 6.0%
- Counties can levy an additional sales tax of no more than 3.0%.
- Current average sales tax (with local taxes included): 6.08%
- Common Exceptions at State Level:
- Prescription Medicine: Exempt
- Gasoline Tax: 51.40 cents/gallon (Includes all state, local, and federal taxes)
- Diesel Fuel Tax: 57.40 cents/gallon (Includes all state, local, and federal taxes)
- Groceries are taxed, but a $100-per-person sales tax credit (seniors get $120) is in place.
Personal Income Tax
Income tax comments: *$40,140 of retirement income ($60,210 for joint filers) may be exempt if 65 and over (or 62 and over and disabled) but must be reduced by any Social Security benefits.
- Personal Income Tax Rate Range: Flat rate of 5.8% on income over $2,500.
- Standard deduction: Single Filing Status: $13,850.
- Personal Exemption Allowance: N/A
- Itemized Deductions Allowed? Yes, subject to limitations.
- Retirement Income
- Social Security: Exempt
- IRAs: Taxable at ordinary income tax rates*
- 401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
- Private pensions: Taxable at ordinary income tax rates*
- Public Pensions: Taxable at ordinary income tax rates*
- Military Pay
- Active Duty Pay: Taxable to the extent included in federal income
- Military Retirement Pay: Taxable at ordinary income tax rates*
- Military Disability Pay: Exempt
- VA Disability Dependency & Indemnity Compensation Benefits: Exempt
- SBP/SSBP/RCSBP/RSFPP: Taxable at ordinary income tax rates*
Property Tax Comments: Tax deferral programs are in place if meet income requirements.
- Local municipalities average .63% of the property's assessed value.
- Calculation of assessed value: 100% of fair market value
- Relief programs for:
- Owner-occupied: Assessed value is lesser of 50% of fair market value up to $125,000.
- 65 and over/Disabled/Disabled Vet: Taxes may be reduced by up to $1,500 if income less than $33,870.
- Personal Property Tax: Yes.
Inheritance & Estate Taxes: None.
Department of Revenue website: https://tax.idaho.gov