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Eye On Boise

Mon., March 2, 2009, 8:01 a.m.

When timing is everything

The tax breaks in the federal stimulus bill include a new deduction for sales taxes on vehicle purchases, up to $49,500 of their cost. It phases out for higher-income taxpayers, Sen. Brent Hill explained to legislative budget writers this morning, and there's a specific date-of-purchase range that's covered: It's only for new cars, light trucks, RVs and motorcycles purchased from Feb. 17, 2009 to Dec. 31, 2009. "I purchased a new car, with my wife, on Feb. 12th," Hill confided to the committee, missing the window. That particular tax break, by the way, will cost Idaho $1.68 million in state income tax revenue if the state conforms its tax code to the IRS changes.




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Eye On Boise

Short takes and breaking news from the Idaho Legislature and the state capital.