Form 67 (EFO00037) Credit for Idaho Research Activities - Idaho

What Is Form 67 (EFO00037)?

This is a legal form that was released by the Idaho State Tax Commission - a government authority operating within Idaho. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 67 (EFO00037)?
A: Form 67 (EFO00037) is a tax form specifically for claiming the Credit for Idaho Research Activities in the state of Idaho.

Q: What is the Credit for Idaho Research Activities?
A: The Credit for Idaho Research Activities is a tax credit provided by the state of Idaho to incentivize businesses to conduct research and development activities within the state.

Q: Who is eligible for the Credit for Idaho Research Activities?
A: Businesses that have conducted qualified research and development activities in Idaho are eligible to claim the Credit for Idaho Research Activities.

Q: What qualifies as research and development activities for the purpose of this credit?
A: Research and development activities include qualified research expenses incurred by a business in Idaho, such as wages, supplies, and contract research costs.

Q: How much is the Credit for Idaho Research Activities worth?
A: The credit is equal to 5% of the qualified research expenses incurred by the business in Idaho.

Q: How do I claim the Credit for Idaho Research Activities?
A: To claim the Credit for Idaho Research Activities, businesses must complete and file Form 67 (EFO00037) with the Idaho State Tax Commission.

Q: Are there any limitations or restrictions on the Credit for Idaho Research Activities?
A: Yes, there are certain limitations and restrictions on the credit, such as a maximum credit amount and carryforward provisions. It is advisable to consult the instructions accompanying Form 67 (EFO00037) or seek professional tax advice for more details.