Idaho

Idaho has no inheritance tax and its estate tax expired for deaths in 2004

“Idaho has no gift tax or inheritance tax, and its estate tax for deaths expired in 2004.”

Note: Verbatim from the live page, including the slightly awkward phrasing 'estate tax for deaths expired in 2004'.

Idaho income tax rate is 5.3% on taxable income above $2,500 (single filer) for TY2025

“For taxable years beginning on or after January 1, 2025, a tax is imposed upon the Idaho taxable income of every individual at the rate of 5.3 percent on taxable income in excess of two thousand five hundred dollars ($2,500).”

Note: Idaho's base is federal taxable income, so the federal MFJ standard deduction shelters the first ~$30,000 of gains. The 60% Idaho-property deduction explicitly excludes stocks and bonds and is immaterial to portfolio CG.

Idaho income tax rate is 5.695% on taxable income above $4,674 (single) for TY2024

“For taxable years beginning on or after January 1, 2024, but before January 1, 2025, a tax is imposed upon the Idaho taxable income of every individual at the rate of 5.695 percent on taxable income in excess of four thousand six hundred seventy-four dollars ($4,674).”

Note: Idaho Code §63-3024 established the TY2024 flat rate at 5.695% above $4,674 single. This rate was retroactively reduced to 5.3% effective TY2025 by subsequent amendment.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

ID exempts ID-issued bonds; out-of-state muni bond interest is an Idaho income addition per Idaho Code §63-3022

“Certain interest and dividend income that is exempt from federal income tax must be added. The addition includes interest from bonds of states other than Idaho and their political subdivisions.”

Note: Idaho Code §63-3022 and IDAPA 35.01.01 Rule 105.01. Idaho bonds exempt; out-of-state bonds taxable.

ID exempts ID-issued bonds; out-of-state muni bond interest is an Idaho income addition per Idaho Code §63-3022

“Certain interest and dividend income that is exempt from federal income tax must be added. The addition includes interest from bonds of states other than Idaho and their political subdivisions.”

Note: Idaho Code §63-3022 and IDAPA 35.01.01 Rule 105.01. Idaho bonds exempt; out-of-state bonds taxable.

Idaho conforms to IRC §1400Z-2 QOZ gain deferral and exclusion

“Idaho income taxes shall be imposed upon the taxable income of every individual, estate, and trust as defined under the Internal Revenue Code as amended and in effect on the first day of the taxable year, except as otherwise provided in this chapter.”

Note: Idaho rolling IRC conformity (§63-3004) incorporates §1400Z-2 without modification.

Idaho conforms to IRC §1202 QSBS gain exclusion

“For the purpose of computing Idaho taxable income, the provisions of the Internal Revenue Code as adopted by reference in section 63-3004, Idaho Code, shall apply.”

Note: Idaho IRC conformity incorporates §1202; no addback.

Idaho taxes FNMA and FHLMC bond interest: Idaho starts from federal taxable income (which includes FNMA/FHLMC interest); the §63-3022 add-back applies only to IRC §103-excluded muni interest

“Certain interest and dividend income that is exempt from federal income tax must be added. The addition includes interest from bonds of states other than Idaho and their political subdivisions.”

Note: Idaho starts from federal taxable income. FNMA and FHLMC bond interest is INCLUDED in federal taxable income; it is not IRC §103-excluded. The §63-3022 add-back applies only to IRC §103-excluded out-of-state muni interest; FNMA/FHLMC interest is already in the base. No separate Idaho subtraction exists for non-federally-preempted GSE interest.

Idaho income tax rate is 5.3% on taxable income above $2,500 (single filer) for TY2025

“For taxable years beginning on or after January 1, 2025, a tax is imposed upon the Idaho taxable income of every individual at the rate of 5.3 percent on taxable income in excess of two thousand five hundred dollars ($2,500).”

Note: Idaho's base is federal taxable income, so the federal MFJ standard deduction shelters the first ~$30,000 of gains. The 60% Idaho-property deduction explicitly excludes stocks and bonds and is immaterial to portfolio CG.

U.S. Treasury interest exempt from Idaho income tax: 31 U.S.C. §3124(a) prohibits state taxation of U.S. government obligations

“Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.”

Note: 31 U.S.C. §3124(a) preempts state income taxation of U.S. government obligations. Covers T-bills, T-notes, T-bonds, TIPS, and I-bonds. Most states allow a deduction or subtraction by statute cross-referencing this federal preemption.

FHLB and FFCB bond interest exempt from Idaho income tax: federal enabling statutes mandate state tax exemption

“Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.”

Note: 12 U.S.C. §1433 (FHLB) and 12 U.S.C. §2023 (FFCB/Farm Credit Act) both mandate state tax exemption for securities issued under their chapters. Contrasts with FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) which have no bondholder exemption statute and whose interest is taxable by income-tax states.

Farm Credit Act: notes, bonds, debentures, and other obligations of Farm Credit Banks are instrumentalities of the United States exempt from all State, municipal, and local taxation

“The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).”

Note: 12 U.S.C. §2023 explicitly covers 'the income therefrom' (i.e., interest payments to bondholders), exempting it from all State and local taxation. The only carve-out is federal income tax on the holder. Parallel to 12 U.S.C. §1433 (FHLB Act), which exempts FHLB securities from state taxation. Together §1433 and §2023 mandate state and local tax exemption for both FHLB and FFCB bond interest. Shared across all jurisdictions: a single object reference satisfies buildCitationIndex() identity check.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

Idaho income tax rate is 5.3% on taxable income above $2,500 (single filer) for TY2025

“For taxable years beginning on or after January 1, 2025, a tax is imposed upon the Idaho taxable income of every individual at the rate of 5.3 percent on taxable income in excess of two thousand five hundred dollars ($2,500).”

Note: Idaho's base is federal taxable income, so the federal MFJ standard deduction shelters the first ~$30,000 of gains. The 60% Idaho-property deduction explicitly excludes stocks and bonds and is immaterial to portfolio CG.

Idaho is a community property state: property acquired during marriage is community property (Idaho Code § 32-906)

“All property acquired after marriage by either husband or wife, except as provided in section 32-903, Idaho Code, is community property.”

Note: Idaho has been a community property state since territorial days. Idaho Code § 32-906 is the principal statute. Idaho community property includes wages, salaries, and income from community property. Separate property (§ 32-903) is property owned before marriage or acquired by gift or inheritance during marriage.

Idaho income tax: joint-return income threshold ($5,000) is exactly double single-filer threshold ($2,500); flat 5.3% rate applies above each threshold

“(2)(a) The tax imposed upon individuals, trusts, and estates shall be computed at the rate of five and three-tenths percent (5.3%) of taxable income over two thousand five hundred dollars ($2,500). (2)(b) For taxpayers filing a joint return pursuant to the provisions of section 63-3031, Idaho Code, the tax imposed shall be computed at the rate of five and three-tenths percent (5.3%) of taxable income over five thousand dollars ($5,000).”

Note: Idaho has a single flat rate (5.3%) that applies above the income threshold. The threshold doubles for joint filers: $2,500 for individuals vs. $5,000 for joint returns (§63-3031). Thresholds are adjusted annually for inflation under §63-3024(3). The $5,000/$2,500 doubling is exactly 2×, making Idaho marriage-neutral in the threshold structure.

Idaho Form 39NR adds back capital losses incurred in another state or that Idaho does not tax

“Column A: Enter any capital losses included on federal Form 1040 or 1040-SR, line 7 that you incurred in another state or capital losses from activities that Idaho doesn't tax.”

Note: Idaho Form 39NR (Additions), Capital Loss Carryforward line, requires adding back capital losses incurred in another state or that Idaho does not tax, so an imported pre-residency federal capital-loss carryforward cannot offset Idaho gains. Quote verbatim from the live Form 39NR PDF (fetched via curl).