PDF document

- 1 -

Don’t Staple 8734

Form 41S 2023
S Corporation Income Tax Return
Amended Return? Check the box. See For calendar year State use only
Mo Day Year Mo Day Year
page 1 of the instructions for reasons to 2023 or fiscal
▪ amend and enter the number that applies. ▪ year beginning 23 ending
Business name State use only Federal Employer Identification Number (EIN)

Current business mailing address NAICS Code
▪
City State ZIP Code Foreign country (if not U.S.)

1. Check the type of return ▪ Regular ▪ Composite ▪ Affected business entity
2. If a federal audit was finalized this year, enter the latest year audited ...................... ▪
3. Is this an inactive corporation or nameholder corporation? ......................................................................... Yes ▪ No
4. a. Were federal estimated tax payments required? .................................................................................... Yes ▪ No
b. Were estimated tax payments based on annualized amounts? ............................................................. Yes ▪ No
5. Is this a final return? .................................................................................................................................... Yes ▪ No
If yes, check the proper box below and enter the date the event occurred
Withdrawn from Idaho Dissolved Merged or reorganized Enter new EIN
6. Is this an electrical or telephone utility? ....................................................................................................... Yes ▪ No
7. Did the ownership change during the year?................................................................................................ Yes ▪ No
8. Enter the amount of total qualified investments for investment tax credit acquired during this tax year ..... ▪
9. Enter the amount of broadband equipment investment credit earned this tax year .................................... ▪
10. Enter the amount of credit for Idaho research activities earned this tax year ............................................. ▪
11. Reserved .....................................................................................................................................................
12. Did you claim the property tax exemption for investment tax credit property acquired this tax year? ......... Yes ▪ No
Income
13. Ordinary income (loss). Form 1120S, page 1 ................................................................................ ▪ 13
14. Net income (loss) from rental real estate activities. Form 1120S, Schedule K .............................. ▪ 14
15. Net income (loss) from other rental activities. Form 1120S, Schedule K ....................................... ▪ 15
16. Portfolio income (loss). Form 1120S, Schedule K ......................................................................... ▪ 16
Don’t Staple 17. Other items. See instructions ........................................................................................................ ▪ 17
18. Net distributable income. Add lines 13 through 17 ........................................................................ 18
Additions
19. Interest and dividends not taxable under Internal Revenue Code. Include a schedule ............... ▪ 19
20. State, municipal, and local taxes measured by net income. Include a schedule .......................... ▪ 20
21. Bonus depreciation. Include a schedule ....................................................................................... ▪ 21
22. Other additions ............................................................................................................................. ▪ 22
23. Add lines 18 through 22 ................................................................................................................ 23
Subtractions
24. Interest from Idaho municipal securities ...................................................... ▪ 24
25. Interest on U.S. government obligations. Include a schedule ..................... ▪ 25
26. Interest and other expenses related to lines 24 and 25................................ ▪ 26
27. Add lines 24 and 25, then subtract line 26 .................................................................................... 27
28. Technological equipment donation ................................................................................................ ▪ 28
29. Allocated income. Include a schedule .......................................................... ▪ 29
30. Interest and other expenses related to line 29. Include a schedule ............. ▪ 30
31. Subtract line 30 from line 29 .......................................................................................................... 31
32. Bonus depreciation. Include a schedule ........................................................................................ ▪ 32
33. Other subtractions. See instructions .............................................................................................. ▪ 33
34. Total subtractions. Add lines 27, 28, 31, 32, and 33 ...................................................................... 34
35. Net business income subject to apportionment. Subtract line 34 from line 23 .............................. ▪ 35
Continue to page 2. —Include a complete copy of your federal Form 1120S.
Return and payment - Mail to: Idaho State Tax Commission, PO Box 83784 Boise ID 83707-3784
Return only - Mail to: Idaho State Tax Commission, PO Box 56, Boise, ID 83756-0056
EFO00028 09-11-2023 Page 1 of 2

- 2 -

Enlarge image

Form 41S 2023 (continued)
36. Net business income subject to apportionment. Enter the amount from line 35 ..................... 36
37. Corporations with all activity in Idaho enter 100%. Multistate/multinational corporations
complete and include Form 42; enter the apportionment factor from Form 42, Part I, line 21 .............. ▪ 37 %
38. Net business income apportioned to Idaho. Multiply line 36 by the percent on line 37 ......................... ▪ 38
39. Income allocated to Idaho. See instructions .......................................................................................... ▪ 39
40. Affected business entity (ABE) Idaho net operating loss carryover ....................................................... ▪ 40
41. Reserved ............................................................................................................................................... 41
42. Income reported on entity’s composite return from Form PTE-12. Include Form PTE-12 .................... ▪ 42
43. ABE income. If electing ABE, add lines 38 and 39 then subtract line 40 ............................................... ▪ 43
Check if ABE has exempt members. See instructions .................................................... ▪
44. Idaho income tax. 5.8% of either line 42 or 43 ............................................................................... ▪ 44
Credits
45. Credit for contributions to Idaho educational entities ................................... ▪ 45
46. Credit for contributions to Idaho youth and rehabilitation facilities .............. ▪ 46
47. Total business income tax credits from Form 44, Part I, line 10.
Include Form 44 ........................................................................................... 47
48. Total credits. Add lines 45 through 47. If ABE has exempt entity members. See instructions ....... 48
49. Subtract line 48 from line 44. If line 48 is greater than line 44, enter zero .................................... 49
Other Taxes
50. Minimum tax. See instructions if the S corporation owes federal tax ............................................ ▪ 50 20
51. Permanent building fund tax. See instructions .............................................................................. ▪ 51
52. Total tax from recapture of income tax credits from Form 44, Part II, line 6. Include Form 44 ...... 52
53. Fuels tax due. Include Form 75 ..................................................................................................... 53
54. Sales/use tax due on untaxed purchases (online, mail order, and other) .............................. ▪ 54
55. Tax from recapture of qualified investment exemption (QIE). Include Form 49ER ........................ ▪ 55
56. Total tax. Add lines 49 through 55. If ABE has exempt entity members. See instructions ............. ▪ 56
57. Underpayment interest. Include Form 41ESR ............................................................................... ▪ 57
58. Donation to Opportunity Scholarship Program .............................................................................. ▪ 58
59. Add lines 56 through 58 ................................................................................................................. 59
Payments and Other Credits
60. Estimated tax payments. If made under other EINs, provide EINs, amounts, and rollforwards .......... ▪ 60
61. Tax paid by ABE on your behalf .......................................................................................................... ▪ 61
62. Specia l fuels tax refundGasoline tax refund Include Form 75 .... 62
63. Tax Reimbursement Incentive credit. Include certificate ................................................................ ▪ 63
64. Total payments and other credits. Add lines 60 through 63 .......................................................... 64
Refund or Payment Due
65. Tax due. If line 59 is more than line 64, subtract line 64 from line 59 ............................................ ▪ 65
66. Penalty ▪ Interest from the due date ▪ Enter total ....................... 66
67. Nonrefundable credit from a prior year return. See Form 44 instructions ..................................... ▪ 67
68. Total Due. Add lines 65 and 66, then subtract line 67 ................................................................. ▪ 68
69. Overpayment. If line 59 is less than line 64, subtract line 59 from line 64 ................................... ▪ 69
70. Refund ......... ▪ Apply to 2024 ......... ▪ See instructions.
Amended Return Only. Complete this section to determine your tax due or refund.
71. Total due (line 68) or overpayment (line 69) on this return ........................................................... 71
72. Refund from original return plus additional refunds .......................................................................... 72
73. Tax paid with original return plus additional tax paid ..................................................................... 73
74. Amended tax due or refund. Add lines 71 and 72, then subtract line 73 ...................................... 74
Within 180 days of receiving this return, the Idaho State Tax Commission may discuss this return with the paid preparer identified below.
▪ Under penalties of perjury, I declare that to the best of my knowledge and belief this return is true, correct, and complete. See instructions.
Signature of officer Date
Sign ▪
Here Title Officer phone number

Paid preparer’s signature Preparer’s EIN, SSN or PTIN
▪ ▪
Address Preparer’s phone number

EFO00028 09-11-2023 Page 2 of 2

- 3 -

Enlarge image

                         Form 41S — Instructions                                                        2023
                         S Corporation Income Tax Return

Instructions are for lines not fully explained on the form. Question 1 Return Type. Check the appropriate box. 
An S corporation must provide each shareholder              A composite return is a single return filed by an entity 
with an Idaho Form ID K-1. This form shows the              on behalf of its eligible owners. An affected business 
shareholder’s proportionate share of Idaho additions,       entity is an S corporation that elects to be taxed at 
subtractions, and credit information. For shareholders      the entity level. Include Form ABE, Affected Business 
who aren’t individuals, the Form ID K-1 also provides       Entity Election with your return. If the entity checks the 
apportionment factor information that’s needed to           ABE box and an authorized person signs the return, no 
complete their Idaho income tax return. Form ID             election form is necessary. If the person who signs the 
K-1 also identifies the proportionate share of gross        return isn’t authorized by the entity, the signatures of all 
income to help determine Idaho filing requirements of       members must be provided on Form ABE.
individual shareholders.                                    See additional information including Forms PTE-12 and 
Include all Form ID K-1s and a complete copy of             PTE-01 on our Pass-through Entity Guidance page at 
federal Form 1120S, including all federal Schedule          tax.idaho.gov/pte.
K-1s, with the Idaho Form 41S.
                                                            Question 2 Federal Audit. If a federal audit was 
Rounding                                                    finalized during the tax year, enter the most recent tax 
                                                            year covered in the audit.
Round the amounts on the return to the nearest whole 
dollar. Round down if under 50 cents, round up if 50        Question 3 Inactive or Nameholder Corporations. 
cents or more.                                              Check the “Yes” box if the S corporation is authorized to 
                                                            transact business in Idaho but has no business activity 
Heading                                                     and no income attributable to Idaho.
File the 2023 return for calendar year 2023 or a 
fiscal year that begins in 2023. For a fiscal year, fill    Question 4 Estimated Tax Payments. 
in the tax year space at the top of the form.               a. Check the “No” box if the corporation wasn’t 
                                                               required to make federal estimated tax payments 
Write your business name, address, and federal 
                                                               in 2023.
Employer Identification Number (EIN) in the space 
provided. Don’t include the dash when entering your         b. Check the “Yes” box if your estimated tax payments 
EIN. Also, provide your NAICS (North American                  were based on annualized amounts.
Industry Classification System) code, listed as the 
                                                            Question 5 Final Return. If this is the corporation’s 
business activity code on your federal return.
                                                            final return for Idaho, check the box that explains the 
                                                            reason and enter the date the event occurred. Enter 
Amended Return                                              the new federal EIN if the corporation was merged or 
You can use this form as an original return or an           reorganized.
amended return. 
                                                            Question 6 Electrical or Telephone Utility. If this 
If you’re filing this form as an amended return, check 
                                                            return is for an electrical or telephone utility, check the 
the box at the top of the form. Enter the number from 
                                                            “Yes” box. 
the following list that best describes your reason for 
amending.                                                   Question 7 Ownership Change. Check the “Yes” box 
1.  Federal Audit                                           if a shareholder’s interest was terminated or if a new 
2.  Federal Amended                                         shareholder acquired an interest in the corporation.

3.  Other – Include an explanation                          Question 8 Total Qualified Investments. Enter the 
Complete the entire form using the corrected amounts.       amount from Form 49 or Form 49ABE, line 3, columns 
                                                            a and b. This is the total qualified investments for the 
Questions 1 – 12                                            investment tax credit that the corporation acquired during 
Mark the appropriate boxes and provide the                  the year. 

requested information. Answer each question or the          Question 9 Broadband Equipment Investment Credit. 
return will be considered incomplete. Incomplete            Enter the amount from Form 68, line 2. This is the 
returns delay processing. Unanswered questions in           broadband equipment investment credit the corporation 
this section will be assumed to be a “no.”                  earned for the tax year.
EIN00098 09-11-2023                                                                                     Page 1 of 8

- 4 -

Enlarge image

Form 41S — Instructions 2023 (continued)

Question 10 Credit for Idaho Research Activities. Don’t enter any amounts from property acquired during
Enter the amount from Form 67, line 16. This is the 2008 and 2009.
credit for Idaho research activities the corporation
earned for the tax year. Line 22 Other Additions
Enter any miscellaneous Idaho additions. If you have
Question 12 Property Tax Exemption. Check the separately stated items that must be added back,
“Yes” box if you elected the property tax exemption include the amount. Include a schedule identifying each
on personal property that qualifies for the ITC. addition.
Include a copy of your Form 49E. Include on this line any amounts excluded from
taxable income for funds received according to the
Income emergency rental assistance program established under
Line 16 Portfolio Income Public Law 116-260 for COVID-19 relief.
Enter your net portfolio income or loss from
Form 1120S, Schedule K, lines 4, 5a, 6, 7, and 8a. Subtractions
Line 17 Other Items Line 24 Interest From Idaho Municipal Securities
Enter your other items from Form 1120S, Schedule K. Enter interest income from securities issued by the state
Include any other income, loss, or deductions (such as of Idaho and its political subdivisions, if included on
Section 179 or charitable contributions) required to be line 20.

reported separately to shareholders from the federal Line 25 Interest on U.S. Government Obligations
Form 1120S, Schedule K. Idaho doesn’t tax interest income from U.S. government
obligations. Deduct any U.S. government interest
Additions included in federal income. Examples of U.S.
Line 19 Interest and Dividends Not Taxable Under government obligations include:
Internal Revenue Code (IRC) • Banks for Cooperatives
Enter the interest and dividends net of applicable
• Federal Farm Credit Banks
amortization received or accrued from obligations of
any state or political subdivision excluded from federal • Federal Financing Bank
income under the provisions of the IRC. • Federal Homeowners Loan Bank
• Federal Intermediate Credit Bank
Line 20 State, Municipal, and Local Taxes
Enter the total of all state, municipal, and local taxes • Federal Land Bank
measured by net income that have been paid or • Guam
accrued during the tax year, minus any refunds that • Puerto Rico
have been included in federal income. Include taxes
• Student Loan Marketing Association
paid on built-in gains and excess net passive income.
Include a schedule of all taxes deducted on the • Tennessee Valley Authority Bonds
federal return. • Territory of Alaska
• Territory of Hawaii
Line 21 Bonus Depreciation
If you claimed bonus depreciation for federal purposes • Territory of Samoa
for property acquired before 2008 or after 2009: • U.S. Series EE and HH Bonds
• Complete a separate federal Form 4562 or • U.S. Treasury Bills and Notes
detailed computation for Idaho depreciation • Virgin Islands
purposes as if the special depreciation allowance
Idaho taxes interest income from the Federal National
hadn’t been claimed.
Mortgage Association (FNMA) and the Government
• Compute the Idaho adjusted basis and any gains National Mortgage Association (GNMA).
or losses from the sale or exchange of property
using the Idaho depreciation amounts. If you have interest income from a mutual fund that
invests in both nonexempt securities and exempt
• If the federal depreciation (including gains and
U.S. government securities, you can deduct the
losses) is more than the Idaho depreciation
portion of the interest earned that’s attributable to
(including gains and losses), include the
direct U.S. government obligations. The mutual fund
difference as an addition on this line; otherwise,
must identify the amount for it to be deductible.
enter the difference on line 32.

EIN00098 09-11-2023 Page 2 of 8

- 5 -

Enlarge image

Form 41S — Instructions 2023 (continued)

Line 26 Interest Expense Offset 1. Expenses directly related to
Complete the following computation to calculate the nonbusiness income ..............................
interest expense offset. 2 a. Interest expense. Total interest
1a. Interest expense. Total interest expense deducted in determining
expense deducted in determining federal income ........................................
federal income ........................................ b. Interest expense disallowed under
IRC Sections 265 and 291 .....................
b. Interest expense disallowed under IRC
Sections 265 and 291 ............................ c. Interest expense from a pass-through
entity .......................................................
c. Interest expense from a pass-through
entity ....................................................... d. Subtotal. Add lines a through c ..............
d. Intercompany interest expense ............. e. Interest expense included in line 1 ........
e. Total interest expense. Add lines a f. Interest expense on line 26 attributable
through c and subtract line d ................. to tax-exempt income .............................
2. Total tax-exempt income (interest on g. Intercompany interest expense .............
qualifying obligations of the United h. Total interest expense. Subtract
States and the state of Idaho, its cities, lines e, f, and g from line d .....................
and political subdivisions) ...................... 3. Total nonbusiness income .....................
3. Total income. .......................................... 4. Total income. ..........................................
4. Divide line 2 by line 3 ............................. % %
5. Divide line 3 by line 4 .............................
5. Multiply line 1e by line 4. Enter 6. Multiply line 2h by line 5. This is
amount on line 26 ................................. the interest expense prorated to
nonbusiness income ..............................
Line 28 Technological Equipment Donation
7. Other indirect expenses related to
Enter the lesser of cost or fair market value of
both business and nonbusiness
technological equipment donated to one or more
income ....................................................
of the following Idaho educational institutions or
libraries located in Idaho: 8. Multiply line 7 by line 5 ...........................
9. Add lines 1, 6, and 8. Enter amount
• Public or nonprofit private elementary or
on line 30 ................................................
secondary school
• Public or nonprofit private college or university
Line 32 Bonus Depreciation
• Public library or library district If you claimed bonus depreciation for federal purposes
Items that qualify for this deduction are limited for property acquired before 2008 or after 2009:
to computers, computer software, and scientific • Complete a separate federal Form 4562 or detailed
equipment or apparatus manufactured within five computation for Idaho depreciation purposes as
years of the date of donation. The amount deducted if the special depreciation allowance hadn’t been
can’t reduce Idaho taxable income to less than zero. claimed.
Any unused deduction can’t be carried to another • Compute the Idaho adjusted basis and any gains
year. or losses from the sale or exchange of property
using the Idaho depreciation amounts.
Line 29 Allocated Income
Enter the amount of nonbusiness income. Include • If the federal depreciation (including gains and
a schedule detailing the source of the income losses) is less than the Idaho depreciation
and explaining why the income was classified as (including gains and losses), include the difference
nonbusiness. as a deduction on this line; otherwise, enter the
difference on line 21.
Line 30 Nonbusiness Expense Offset Don’t enter any amounts for property acquired during
Add back expenses included in computing federal
2008 and 2009.
income that are related to the production of allocated
nonbusiness income listed on line 29. Line 33 Other Subtractions
Enter any miscellaneous Idaho deductions. Include
any deductions from separately stated items
you’re required to report except for deductions not
EIN00098 09-11-2023 Page 3 of 8

- 6 -

Enlarge image

Form 41S — Instructions 2023 (continued)

allowed to S corporations when paying the tax for Credits
shareholders. Include a schedule identifying each Except for the Tax Reimbursement Incentive credit and
deduction. the investment tax credit earned by an S corporation
Include any amounts included in net distributable while a former C corporation, credits earned by the S
income, line 18 for funds received or loans forgiven corporation pass through to each shareholder based on
according to Public Laws 116-136, 116-139, and that shareholder’s proportionate share of S corporation
116-142 for COVID-19 relief. income or loss. When an S corporation has a fiscal
year-end other than that of the shareholder, the credit
Line 37 Apportionment Factor passes through in the same period that the shareholder
If all the activity is in Idaho, enter 100%. If the S reports the S corporation income or loss for federal tax
corporation has multistate/multinational operations, purposes.
enter the apportionment factor from Form 42, Part I, The S corporation must provide each shareholder
line 21. Include Form 42. with an Idaho Form ID K-1. This form shows the
Line 38 Net Business Income Apportioned to Idaho shareholder’s proportionate share of credits earned,
Multiply line 36 by the percent on line 37. credits subject to recapture, and contribution information
needed to calculate certain credits. Each shareholder
Line 39 Income Allocated to Idaho uses this information to determine the amount of Idaho
Enter the amount of nonbusiness income allocated credit allowed, recapture required, and credit carryovers
to Idaho minus the nonbusiness expense offset to report on the shareholder’s Idaho income tax return.
from line 30 that applies to this income. Include a Credits reported by each shareholder are subject to the
schedule detailing the source of the income allocated limitations applicable to that shareholder. Include copies
to Idaho. of Form ID K-1 with this return for the year when the
If the amounts on lines 38 and 39 are being credit is earned.
distributed to shareholders and will be reported on a If an individual shareholder’s portion of the income
return other than a composite or ABE return, do not is taxed on the S corporation’s return, the tax can be
complete lines 40 through 44. offset by that shareholder’s proportionate share of
credits. Credits applied to this tax are computed based
Line 40 Affected Business Entity (ABE) Idaho Net
on the credit limitations applicable to corporations.
Operating Loss (NOL) Carryover
For example, if an S corporation pays the tax for
Enter the total Idaho NOL carryover amount for the
three individual shareholders, the amount of credit for
ABE. Include Form 56 or a schedule showing the
contributions to educational institutions is the lesser of
application of the loss.
the following amounts:
If the S corporation isn’t making the ABE election, • 50% of the three shareholders’ share of the amount
don’t enter anything on this line. Any unused NOL donated
flows through to the shareholders.
• 10% of the tax computed for the three
Line 42 Income Reported on Entity’s Composite shareholders, or
Return from Form PTE-12
• $5,000
Enter the total composite income reported on
Form PTE-12 for all nonresident individual owners. Credits allowed to a shareholder that aren’t used to
This amount should be the total Idaho distributable offset that shareholder’s tax can’t be used to offset the
income for all shareholders on Form PTE-12 with tax computed for other shareholders. The broadband
filing code “C”. equipment investment credit can be transferred to
another taxpayer rather than used by the taxpayer who
Line 43 ABE Income earns the credit.
Check the box if the ABE has any exempt entity
To claim a credit you acquired through a transfer, include
members and subtract their share of Idaho income
a copy of the Form 70, Idaho Statement of Credit
from the total affected business income reported on
Transfer, with each return you’re claiming a transferred
lines 38 and 39 minus line 40. Enter the difference
credit on.
on this line. An exempt entity means an entity that’s
a member of the ABE and is exempt from income tax Line 45 Credit for Contributions to Idaho
under Idaho Code. Educational Entities
Donations made by an S corporation to a qualified
educational entity can qualify for a tax credit. Donations
of goods or services don’t qualify.
EIN00098 09-11-2023 Page 4 of 8

- 7 -

Enlarge image

                                                         Form 41S — Instructions      2023 (continued)         

Composite Return                                         Line 46 Credit for Contributions to Idaho Youth 
If the S corporation pays the tax for one or more        and Rehabilitation Facilities
nonresident individual shareholders, determine each      An S corporation can claim this credit if it donated cash 
shareholder’s proportionate share of the following       or goods to the following:
amounts and enter the total of these amounts on          • Qualified center for independent living
this line.
                                                         •  Youth or rehabilitation facility or its foundation, or
The credit is limited to the smallest of:                • Nonprofit substance abuse center licensed by the 
•  One-half of the amount donated                          Idaho Department of Health and Welfare
•  10% of the tax on line 44, or                         Composite Return
•  $5,000                                                If the S corporation is paying the tax for one or more 
Don’t enter the total credit earned by the S corporation nonresident individual shareholders, determine each 
if the S corporation isn’t paying the tax for all        shareholder’s proportionate share of the following 
shareholders.                                            amounts and enter the total of these amounts here.
                                                         The credit is limited to the smallest of:
ABE Return
The credit is limited to the smallest of:                •  One-half of the amount donated
•  One-half of the amount donated                        •  10% of the tax on line 44
•  10% of the tax on line 44, or                         •  $500, or
•  $5,000                                                •  The tax on line 44 minus the amounts on line 45 
                                                           and Form 44, Part I, line 1
Enter the total credit earned by the ABE
                                                         Don’t enter the total credit earned by the S corporation if 
A qualified educational entity includes:
                                                         the S corporation isn’t paying the tax for all shareholders.
• A nonprofit corporation, fund, foundation, 
  research park, trust, or association organized         ABE Return
  and operated exclusively for the benefit of Idaho      The credit is limited to the smallest of:
  colleges and universities                              •  One-half of the amount donated
• A nonprofit, private, or public Idaho school           •  10% of the tax on line 44 
  (elementary, secondary, or higher education) or        •  $500, or
  its foundation                                         •  The tax on line 44 minus the amounts on line 45 
•  Idaho education public broadcast system                 and Form 44, Part I, line 1
  foundations
                                                         Enter the total credit earned by the ABE
•  The Idaho State Historical Society or its 
  foundation                                             The qualified youth or rehabilitation facilities and their 
                                                         foundations are:
•  An Idaho public library or its foundation
                                                         •  Anchor House
•  An Idaho library district or its foundation
                                                         •  The Arc, Inc., Boise
• An Idaho public or private nonprofit museum
                                                         •  The Children’s Home Society of Idaho, Inc., Boise
•  The Idaho Commission for Libraries
                                                         •  The Children’s Village, Inc., Coeur d’Alene
• Idaho Commission on Hispanic Affairs
                                                         • Dawn Enterprises, Inc., Blackfoot
•  Idaho Commission for the Blind and Visually 
  Impaired                                               • Development Workshop, Inc., Idaho Falls
•  Idaho Council on Developmental Disabilities           •  Gem Youth Services, Emmett
•  Idaho State Independent Living Council                •  Hope House, Inc., Nampa
•  Idaho STEM Action Center                              •  Idaho Drug Free Youth, Inc., Coeur d’Alene
•  Idaho Council for the Deaf and Hard of Hearing        • Idaho Elks Rehabilitation Hospital, Inc., Boise
•  Medical residency programs or support                 •  Idaho Youth Ranch
  organizations devoted to training residents in         •  Kinderhaven, Sandpoint
  Idaho                                                  •  Learning Lab, Inc., Boise
                                                         •  Magic Valley Rehabilitation Services, Inc.,Twin Falls
                                                         •  New Day Products, Inc., Pocatello

EIN00098  09-11-2023                                                                                   Page 5 of 8

- 8 -

Enlarge image

                                                        Form 41S — Instructions      2023 (continued)         

• Northwest (North Idaho) Children’s Home               •  Nonproductive mining corporation
•  Opportunities Unlimited, Inc., Lewiston              • Corporation not organized for profit that isn’t 
•  Panhandle Special Needs, Inc., Sandpoint               required to pay federal tax on unrelated business 
                                                          income
• Project P.A.T.C.H. (Planned Assistance for 
  Troubled Children)                                    • Homeowners’ association filing Form 1120-H and 
                                                          having no federal taxable income
•  Shepherd’s Home, Inc., McCall
                                                        •  Corporation under the protection of Public 
•  Transitional Employment Services for the 
                                                          Law 86-272
  Handicapped, Coeur d’Alene
• Walker Center, Gooding                                If the S corporation owes federal tax on excess net 
                                                        passive income or net recognized built-in gains, 
• Winchester Occupational Workshop, Winchester
                                                        compute the Idaho tax using the following instructions:
•  Witco Inc., Caldwell
                                                        •  Compute the Idaho tax on excess net passive 
•  Women’s and Children’s Alliance                        income by multiplying 5.8% by the lesser of 
The following are the qualified centers for               Idaho apportioned excess net passive income or 
independent living:                                       Idaho apportioned taxable income. See federal 
                                                          Form 1120S instructions. Include a copy of the 
•  Disability Action Center Northwest, Moscow and 
                                                          computations.
  Coeur d’Alene
                                                        •  Compute the Idaho tax on net recognized built-in 
• Living Independence Network Corporation, Boise 
                                                          gains by multiplying 5.8% by the Idaho apportioned 
  and Twin Falls
                                                          net recognized built-in gain. See federal 
• Living Independently For Everyone, Inc., Blackfoot,     Form 1120S, Schedule D instructions. Include a 
  Idaho Falls and Pocatello                               copy of the computations.
Line 47 Total Business Income Tax Credits               •  In computing the Idaho net recognized built-in gain, 
Composite Return                                          any bonus depreciation additions and subtractions 
If the S corporation pays the tax for one or more         should be included in the calculation. The 
nonresident individual shareholders, determine            apportionment factor for the year of sale should be 
each shareholder’s proportionate share of the total       used in the calculation.
business income tax credits allowed from Form 44,       •  If the corporation was previously a C corporation 
Part I, line 10 and enter the total of these amounts      with credit carryover, the credit can be used to 
here. Don’t enter the total credit earned by the          offset all or part of the tax.
S corporation if the S corporation isn’t paying the tax 
                                                        If the total tax computed is more than $20, draw a line 
for all shareholders. Include Form 44.
                                                        through the 20 printed on the form. Enter on this line the 
ABE Return                                              total Idaho tax on excess net passive income and net 
Enter the total credits earned by the ABE.              recognized built-in gains minus applicable income tax 
                                                        credit carryovers. Credit limitations apply. The total tax 
Line 48 Total Credits                                   before credits can’t be less than $20.
If the ABE has any exempt entity members, subtract 
their share of Idaho credits from the total ABE credits If the ABE tax computed is more than $20, draw a line 
reported on lines 45 through 47. Enter the difference   through the 20 printed on the form. Enter on this line 
on this line.                                           the total ABE tax minus applicable income tax credits. 
                                                        Credit limitations apply. The total ABE tax before credits 
Other Taxes                                             can’t be less than $20.
Line 50 Minimum Tax                                     Line 51 Permanent Building Fund (PBF) Tax
The minimum tax of $20 is required for each             The following are required to pay the $10 PBF:
corporation:                                            • A corporation required to file an Idaho income tax 
•  That transacts business in Idaho                       return. This includes:
•  Is registered with the Idaho Secretary of State          Homeowners’ associations
  to do business in Idaho, or                               Inactive or nameholder corporations, and
•  Is exercising its corporate franchise in Idaho           Nonproductive mining corporations registered 
This includes an S corporation. The $20 minimum            with the Idaho Secretary of State to do 
tax isn’t required to be paid by a:                        business in Idaho

EIN00098 09-11-2023                                                                                   Page 6 of 8

- 9 -

Enlarge image

Form 41S — Instructions 2023 (continued)

• Each corporation in the unitary group that’s of the property tax benefit. Enter the amount from
required to file an Idaho income tax return Form 49ER, Part III, line 18. Include Form 49ER.
• An S corporation required to pay tax on excess Line 56 Total Tax
net passive income or net recognized built-in If the ABE has any exempt entity members, subtract their
gains. An S corporation must pay for each share of Idaho total tax from recapture of income tax
individual included in the composite return. credits from the total ABE tax from recapture of income
A corporation under the protection of Public tax credits reported on line 52. Enter the difference plus
Law 86-272 isn’t required to pay the PBF tax. the amounts on lines 49, 50, 51, 53, 54 and 55 on this
line.
An S corporation electing to be an ABE must pay
the PBF tax for each member that is an Idaho Line 57 Underpayment Interest
nonresident. Use Form 41ESR, Part I, Underpayment of Estimated
If all income/loss of the entity is distributed to or Tax, to determine if there’s an underpayment of
otherwise reported on the income tax return of any estimated tax payments. Enter the amount of
another taxpayer, the PBF doesn’t apply. underpayment interest from Form 41ESR, Part II,
line 24. Include Form 41ESR.
Line 52 Total Tax From Recapture of Income Tax If this is an amended return, enter the amount from the
Credits original return.
Composite Return
If the S corporation is paying the tax for one or more Line 58 Donation to Opportunity Scholarship
nonresident individual shareholders, include on this Program
line those shareholders’ proportionate share of the You can make a voluntary donation to the Idaho
total tax from recapture of income tax credits from Opportunity Scholarship Program. The amount
Form 44, Part II, line 6. Include Form 44. designated will either reduce your refund or increase
ABE return your tax due. Your choice to donate can’t be changed;
Enter the total tax from recapture of income tax you can’t get a refund later.
credits from Form 44, Part II, line 6. Include Form 44. Contributions help provide need-based scholarship
funds to Idaho high school graduates who attend
Line 53 Fuels Tax Due
approved higher education institutions in Idaho. For
If you buy gasoline, aircraft fuel or special fuels
more information visit the Idaho Opportunity Scholarship
(diesel, propane, or natural gas) without paying the
Program website at boardofed.idaho.gov/scholarships/
fuels tax and later use this fuel in licensed vehicles
Idaho-opportunity-scholarship.
or aircraft, you owe fuels tax. Add the amounts on
Form 75, Section IV, lines 3 and 4 and enter the total
here. Include Form 75. Payments and Other Credits
Line 60 Estimated Tax Payments
Line 54 Sales/Use Tax Due Enter the total amount of estimated tax payments made
If you purchased an item from an out-of-state seller for tax year 2023 from the following forms:
(including internet, catalog, radio, and TV purchases)
• Form 41ES, Estimated Tax Payment/Extension
and the seller didn’t collect sales tax on that
of Time Payment and
purchase, you must pay the use tax directly to the
Tax Commission. Multiply the total amount of those • The amount applied from your 2022 return
purchases by 6% (.06). • Don’t include PTE-01 payments here

If you computed use tax on Form 75, add it to the use Line 61 Tax Paid by ABE on Your Behalf
tax on other purchases and enter the total here. If the S corporation is a member in an ABE, enter
If you have an Idaho sales or use tax account, don’t the amount of tax paid by the ABE (upper entity)
enter your sales or use tax on this line, but continue on this S corporation’s behalf. Include a copy of
to report the tax on these purchases on your sales Form ID K-1s with your return.
and use tax returns.
Line 62 Special Fuels and Gasoline Tax Refund
Line 55 Tax From Recapture of Qualified The special fuels (diesel, propane, or natural gas) tax
Investment Exemption (QIE) refund is available to those who use the fuel for heating
If you’ve claimed the QIE for property tax on property or in off-highway equipment and have paid the tax on
that no longer qualifies before the end of the five-year the special fuels purchased. Enter the amount from
recapture period, you must recapture part or all Form 75, Section IV, line 2. Include Form 75.
EIN00098 09-11-2023 Page 7 of 8

- 10 -

Enlarge image

Form 41S — Instructions 2023 (continued)

The gasoline tax refund is available to those who buy Amended Return Only
and use gasoline in off-highway equipment or auxiliary Complete lines 71 through 74 only if you’re filing this
engines. Enter the amount from Form 75, Section IV, return as an amended return.
line 1. Include Form 75.
Line 71 Total Due or Overpayment on This Return
Line 63 Tax Reimbursement Incentive Credit If the total due shown on line 68 is greater than zero,
Enter the total credit allowed from the Idaho enter the amount here as a positive amount.
Reimbursement Incentive Certificate. Include a copy
of the certificate with the return. If line 68 is zero, enter the amount of overpayment from
line 69 here as a negative amount.
Refund or Payment Due Line 72 Refund from Original Return Plus Additional
Line 66 Penalty and Interest Refunds
Penalty and interest are computed on the tax on Enter the total refund amount from previous returns for
line 65 minus the underpayment interest on line 57 this tax year here as a positive amount.
and the donation amount on line 58.
Line 73 Tax Paid with Original Return Plus
Penalty: Idaho law provides penalties for not filing Additional Tax Paid
tax returns by the due date, not paying tax due Enter the total due paid from previous returns for this tax
on time, and not prepaying enough on extension year here as a positive amount. Don’t include penalty,
returns. For more information or to calculate a interest, Form 51 estimated payments, withholding, or
penalty, see our Penalties and Interest page at unpaid tax.
tax.idaho.gov/penalties.
Line 74 Amended Tax Due or Refund
Interest: We charge interest on the amount of tax Add lines 71 and 72 then subtract line 73. A positive
due from the due date until paid in full. The rate for amount is your amended tax due. A negative amount is
2024 is 6%. your amended refund.
Line 67 Nonrefundable Credit From a Prior Year
Return Signature
If you were denied a refund from an overpayment of An authorized individual must sign the return on behalf
tax on a prior year return because of the three-year of the corporation.
statute of limitations, you may be eligible to take
a credit for the amount. See Idaho Form 44 for Tax Preparer
calculation of your credit and include it with your Check this box if you paid a tax preparer to complete
return. your return, and you’re authorizing the Tax Commission
Line 70 Refund/Apply to 2024 to discuss your return with the paid preparer identified
Refund on your return.
Enter the amount of your overpayment from line 69 You’re also authorizing the paid preparer to:
that you want refunded to you. Refunds of less than • Give the Tax Commission any information that’s
$1 won’t be issued. You have three years from the missing from your return, and
return’s due date (not including extensions) to claim a
• Call the Tax Commission for information about
refund. Refunds will be reduced by unpaid Idaho tax
the processing of your return or the status of your
liabilities and can be applied to unpaid liabilities owed
refund or payments
to other agencies.
You’re not authorizing the paid preparer to receive
The agency or party seizing the refund must send you
any refund check, bind you to anything including any
notice of the action. Questions about a refund seizure
additional tax liability or otherwise represent you before
should be directed to the agency or party that initiated
the Tax Commission. This authorization is valid for
the claim for seizure.
up to 180 days from the date the Tax Commission
Apply to 2024 receives the return. If you want the Tax Commission
If you’re filing an original return, subtract the amount to contact you instead of your preparer, leave the box
you want to refund from line 69. Any difference will blank.
be applied to your 2024 tax and won’t be refunded.

Contact us:
In the Boise area: (208) 334-7660 |Toll free: (800) 972-7660
Hearing impaired (TDD) (800) 377-3529
tax.idaho.gov/contact
EIN00098 09-11-2023 Page 8 of 8

PDF file checksum: 1665778

(Plugin #1/9.12/13.0)