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Screen IDGen - Idaho Corporate Income Tax Return (1120)

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General Information

Suppress minimum tax
Enter
X
 to suppress the calculation of the minimum Idaho income tax on Form 41 or 41S, Page 2. The minimum tax is not required to be paid by a nonproductive mining corporation, a corporation not organized for profit that is not required to pay federal tax on unrelated business income, or a homeowners’ association filing Form 1120H and having no federal taxable income, or a corporation under the protection of Public Law 86-272.

Alternative Tax Computation (C Corp)

Idaho gross sales if electing alternative tax
A multistate corporation may elect to pay tax at the rate of one percent of Idaho gross sales if it does not own or rent any Idaho property; it does not have any Idaho payroll; and its Idaho sales are $100,000 or less. To make this election, enter the amount of Idaho gross sales. The application automatically calculates Idaho income tax on Form 41, Page 2, by multiplying Idaho Gross Sales times one percent. You must attach a written election statement to the return.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1120 Corporation
  • State: Idaho

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