Notwithstanding the provisions of section 63-3006, Idaho Code, for the purposes of chapter 30, title 63, Idaho Code, a limited liability company as defined in subsection (5) or (6) of section 53-601, Idaho Code, or as defined in section 30-6-102, Idaho Code, as appropriate pursuant to section 30-6-1104, Idaho Code, shall be classified as a partnership, corporation, unincorporated association or otherwise pursuant to the provisions of the internal revenue code. A limited liability company that is classified as a partnership pursuant to the internal revenue code shall be treated as a partnership for purposes of chapter 30, title 63, Idaho Code. A limited liability company that is classified other than a partnership pursuant to the internal revenue code shall be treated for purposes of chapter 30, title 63, Idaho Code, in accordance with its classification.
Idaho Code § 63-3006A
Limited liability company — Classification and taxation
Known as the Idaho Income Tax Act
The act spans §§ 63–63 (179 sections).
I.C., § 63-3006A, as added by 1993, ch. 224, § 2, p. 760; am. 2008, ch. 176, § 3, p. 520.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.