New Exemption for Certain Hand Tools in Idaho
- Feb 29, 2016 | Gail Cole
Effective July 1, 2016, hand tools costing $100 or less are exempt from sales and use tax when used directly in the production of:
- Agricultural irrigation
- The production of certain newspapers
- Radio and television broadcasting
According to the statement of purpose and fiscal note, the bill amends several sales tax exemptions “to be consistent with a change made to the production exemption last year with the enactment of HB 39.” It is expected to reduce sales tax receipts by $100,000, “$81,125 of which affects the General Fund in Fiscal Year 2017.”
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