The state of Idaho will give up an estimated$845 million this year in the form of tax credits and exemptions. And only a select few at the Idaho Tax Commission know exactly where that money goes.
Idaho’s law is pretty clear, individual and business tax information is confidential. Tax returns, specifically, are confidential under federal law. But some states have set up reporting requirements for businesses to disclose which state-specific incentives they’re using (think tax credits and exemptions), and how much those are worth. Idaho isn’t one of those states.
“We’re not advocating the disclosure of tax returns,” says Greg LeRoy, the executive director of the non-partisan organization Good Jobs First. “This is about saying, if you claim a corporate income tax credit on line 39C of your Idaho tax return, it’s no different than if the state wrote you a check.” Continue reading...