Idaho State Income Tax

For 2024, Idaho has a flat income tax rate of 5.8% for all income levels, regardless of filing status. This is part of Idaho's ongoing tax simplification efforts that began in 2022.

• Flat Tax Rate: Idaho applies a 5.8% tax rate on all taxable income in 2024.
• Standard Deduction: Idaho follows federal standard deduction amounts: $13,850 for Single, $27,700 for Married Filing Jointly, $20,800 for Head of Household (2024).
• Grocery Credit: Idaho offers a credit of $100 per person in your household to offset sales tax paid on groceries.
• Dependent Credit: Idaho provides a credit of $120 per qualifying dependent.

Federal Income Tax

Your federal income tax is calculated based on federal tax brackets, your filing status, deductions (standard or itemized), and allowances claimed on your W-4 form. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes (Social Security & Medicare)

FICA taxes fund Social Security and Medicare. These are typically withheld by employers.

• Social Security: 6.2% on income up to the annual limit ($168,600 for 2024).
• Medicare: 1.45% on all income. An additional 0.9% Medicare tax applies to income above certain thresholds ($200,000 for Single, $250,000 for MFJ).

Other Idaho Taxes (Not Calculated Here)

While this calculator focuses on income taxes, be aware of other taxes in Idaho:

• Sales Tax: Idaho has a state sales tax of 6%. Unlike some states, Idaho taxes groceries, but offers the Grocery Credit to offset this tax.
• Property Tax: Property taxes in Idaho are relatively low compared to the national average and are administered at the local level.
• No Local Income Taxes: Idaho does not have any local income taxes imposed by cities or counties.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.