Income Tax
The Idaho income tax rate is 5.8% flat for 2024. This shifted from a previous graduated system with rates ranging from 1% to 6%. Idaho uniquely sits, as most states use a progressive tax system like the federal one. To quickly estimate your 2024 Idaho and Federal Tax, select the tax year, filing status, income, and expenses. This allows for easy comparison of Idaho salaries and tax commitments. Alternatively, enter details into tabs for a more comprehensive calculation.
Property Tax
The Idaho property tax is levied on a property’s assessed value, set by the county. The tax rate is set by local authorities. To calculate, multiply the property tax rate by the property’s assessed value.
Sales Tax
Idaho has a 6% state sales tax rate, a 3% maximum local rate, and a 6.02% average combined rate. This offers a balanced tax framework with advantages for residents and businesses.