Small Increase in Idaho Grocery Tax Credit Approved
We are in the home stretch of the very worst time of the year--tax season! If you're a number cruncher, maybe you enjoy the tax season. Perhaps you're a professional at capitalizing on discounts, credits, write offs and expenses--then tax season is definitely for you.
No matter your situation, Idaho Governor Brad Little has taken some steps to increase, ever so slightly, the amount of credit you're able to get on your Idaho income tax filings starting in 2023.
Sure, 2023 is quite a ways away and there's some time before we're going to see the extra cash-- but with gas prices the way that they are and everything else going on in this world, we are NOT going to say no to some extra cash.
The signature from Idaho Governor Brad Little was on House Bill 509 which brings up the annual maximum credit on Grocery Tax from $100 to $120. By the way, if you or someone you know is older than 65, that will be going up from $120 as it is right now to $140.
It's important to note that you can't claim THIS credit this year-- taxes are coming due and it might be tempting but this doesn't impact grocery taxes and grocery purchases until the year 2023.
Although the extra $20 really doesn't do too much for the average Idahoan, it seems as though the debate really isn't over. Many Idaho politicians wish that the grocery tax would go away all together-- that includes Idaho Governor Brad Little.