Idaho companies won’t get biz equipment tax break

State businesses won’t get a $17 million personal property tax break in 2009 because Idaho’s general fund, in the just-concluded fiscal year, grew less than the 5 percent target needed for the relief to take effect.

The general fund grew only 3.46 percent, to $2.9 billion, according to Idaho State Controller Donna Jones, as Idaho’s economy began faltering in late 2007. The general fund includes revenue from the sales tax, state income tax for corporations and individuals and taxes on beer, wine, liquor and cigarettes.

The proposed break _ to allow Idaho businesses to exempt the first $100,000 worth of computers, fork lifts and office equipment _ would have eliminated personal property tax payments for about 60,000 Idaho businesses and reduced them for the rest of the state’s companies. It was due to begin in the calendar year starting Jan. 1.

By JOHN MILLER

Full Story: http://www.magicvalley.com/articles/2008/08/29/ap-state-id/d92rld4g0.txt