Tax Cut For Top Earners Is Official

Governor C.L. “Butch” Otter sent out this tweet earlier today:

He’s signed House Bill 563, which lowers the top corporate and individual income tax rates from 7.6 and 7.8 percent respectively, to 7.4 percent.

The Associated Press has reported a family of four in the top tax bracket, with a gross income of $100,000, will see their annual tax bill go down by $71.  The Division of Financial Management says the cut will affect about 17 percent of Idaho taxpayers.