Idaho House speaker proposes income tax cut, hints at future sales and property tax cuts
BOISE — Idaho lawmakers will consider significantly reducing income taxes this year, resulting in an anticipated $253 million reduction in revenue — with more tax cuts on the way.
House Speaker Mike Moyle, R-Star, presented the proposed bill Thursday to reduce the flat individual and corporate income tax rate from 5.695% to 5.3%, as well as expand income tax exemptions to U.S. military pension income for disabled veterans under age 62 who are employed, and all veterans age 62-64. It also removes capital gains taxes on metal bullion.
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