Gov. C.L. Butch Otter has vetoed legislation to repeal income tax credits for research activity. Having just signed the personal property tax relief bill into law, it would be inconsistent and unwise to then approve legislation eliminating tax relief for some of those businesses as well as some of Idahos larger employers, Otter wrote in a letter to Speaker of the House Lawerence Denney.

Eliminating the tax credit would put Idaho at a competitive disadvantage with surrounding states that offer research and development credits, Otter wrote.

The research tax credit was one of three tax incentives the Legislature voted to repeal during the last session.

Article written by Eddie Kovsky of the Idaho Business Review.
Tuesday, April 15, 2008