Idaho Code 63-1608 – Lapse of Unused Credit
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 63-1608
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
If for any reason during the impact period the taxpayer should cease business operations and the credits accumulated for prepaid ad valorem taxes have not been completely set off against taxes due, the balance of the unused credit shall be forfeited, and the county and taxing districts shall be under no obligation to pay off the unused credits.