We’re talking this week about tax incentive and exemption transparency. So, we thought it’d be a good idea to create a simple list of what is and is not public information.
Without further ado…
What IS Public Information in Idaho
- Estimates of foregone revenue (tax money the state opted not to collect) due to income tax credits
- Estimates of foregone revenue due to specific sources of income not taxed
- Estimates of foregone revenue due to sales tax exemptions, goods not taxed, services not taxed, and specific entities not taxed
- Property tax exemptions are available at the county level
- Workforce Development Training grants are available through the Department of Labor
What IS NOT Public Information in Idaho
- Specific corporations or small businesses that use Idaho tax credits or exemptions
- Dollar amount of each tax credit or exemption given to specific corporations or small businesses.
- The number of jobs created or retained by a business using a tax credit program aimed at job creation, and the wage rates for those jobs
- Compliance or performance reports
- Outcome of the tax incentive or exemption (did the business do what it promised?)
What is transparent enough? Should the public have the right to see exactly where these incentives are going and who is benefiting? We’ll be exploring these questions all week. Share your thoughts in the comments section below.