Unique aspects of Idaho state tax commission and it’s practice

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Unique aspects of Idaho state tax commission and it’s practice

Idaho State Tax Commission

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Idaho is the state in US & Idaho State Tax Commission is the body that is responsible for monitoring the assets. The Idaho State Tax Commission is part of the executive branch. The four commissioners of it are appointed by the state governor and set by the senate of Idaho. Each of these commissioners serves six year tenure. The commission implements Idaho’s tax laws and works to train the public about their part in the tax structure of the state.

According to the website of the Idaho State Tax Commission it is accountable for the following assets:  These assets include stocks, bonds, mutual funds, bank accounts, uncashed payroll checks, utility deposits and more.

Idaho payroll has some exclusive characteristics and conditions. Some of the details and laws are discussed in this article including information regarding: tax withholding and reporting; unemployment insurance taxes and reporting; wage and hour laws; and child support withholding.

Idaho tax rate

The tax rate ranges from 1-6% to 7.5% on Idaho tax payable income. Idaho State processes these payments on behalf of the Tax Commission.

Facts about Idaho State Tax Commission

According to the Idaho state tax commission every new employer must report the following required components to the state and they are

  1. Employee’s name
  2. The Employee’s address
  3. Employee’s social security number
  4. The Employer’s name
  5. Employers address
  6. Employer’s Federal Employer Identification Number (EIN)

 

  • The above information must be reported and submitted within 20 days of the hiring or rehiring of new employees.
  • The information can be sent by mail, fax or electronically.
  • There is no penalty for a late report in Idaho.
  • Idaho State Tax Commission does not allow compulsory direct deposit.
  • Idaho State Tax Commission requires the following information on an employee’s pay check end.

Listed deductions

Idaho wants that employee be paid not less than monthly. It needs that the interval time between the end of the pay period and the payment of salaries to the employee should not cross 15 days.

Paying to the deceased or dead employees is not allowed by the Idaho law. Not just this, but it is also stated that unclaimed wages should have to be paid to the state after one year.

With respect to the employer it is stated in Idaho law to keep a record of the uncontrolled salaries and paid to the state for a period of 7 years.

Idaho state tax commission law orders to give no more than 35% of minimum wage as a credit tip.

Idaho law requires that hourly wage records are to be kept for a period of not less than three years. These histories will usually consist of at least the information required under Fair Labor Standards Act (FLSA).

Visit official Idaho Website: Idaho State Tax – Official Website

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