Idaho State Tax Commission

Idaho State Tax Commission

REVISIONS MADE TO THE FORM 49E INSTRUCTIONS

The following changes (in red) have been made to the Form 49E Instructions:

On page 1, second column, bullet #2:

September 1, 2010 through December 31, 2010, are assets placed in service during fiscal year ended August 31, 2011.  You must have had negative Idaho taxable income for the fiscal year ended August 31, 2009, to elect the QIE on any of these assets.

 

On page 3, second column, under Qualifying Loss Year:

If you file your income tax returns on a calendar year basis, and you did not have any short period tax years during the previous two years, enter January 1, 2008 to December 31, 2008.  If you did not have negative Idaho taxable income for 2008, you cannot make the election on property placed in service during 2010.

Posted 04-08-2011

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