TAXATION – Adds to existing law to establish an excise tax on international money transmissions and to establish provisions to provide certain credits or refunds of the tax.

Summary

The bill adds a small excise tax on every international money transmission sent from Idaho, collected by licensed transmitters. Idaho taxpayers who pay the tax can claim a refundable credit on their state income return, and transfers taken directly from a sender’s own bank account with proof of U.S. residence are exempt. Collected revenue goes to the general fund after refunds.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share