Does the state of Idaho require a business to report property with a value of $50 or less?
Idaho exempts property valued at $50 or less from being reported if you are incorporated in Idaho. You may report this property voluntarily, but it is not required. You must, however, report property valued at $50 or less when it belongs to individuals or businesses with an address in another state, or if your business is incorporated in another state. (See Reciprocity Procedures.) Contact us if you need more information.
Related Questions
- If a business decides to voluntarily report property with a value of $50 or less to Idaho, can these items be reported in aggregate (one sum total)?
- Can a business request reimbursement from the state of Idaho for property already reported?
- Does the state of Idaho require a business to report property with a value of $50 or less?
