SENATE BILL 1241
Young entrepreneurs
BUSINESS – Amends and adds to existing law to establish exemptions from certain licensing and taxation for businesses owned by young entrepreneurs.
RS30996 / S1241
The Idaho Young Entrepreneurs Act prohibits local governments from requiring licenses, permits or fees of infrequent, youth owned and managed businesses. The legislation exempts infrequent, youth run businesses from sales tax collections.
There will be no impact on the General Fund because sales taxes are not currently collected on such businesses. Similarly, there will be no fiscal impact on local governments since they do not currently require licenses, permits or fees from such businesses.
| Date | Description |
|---|---|
| 01/19 | Introduced; read first time; referred to JR for Printing |
| 01/22 | Reported Printed; referred to Local Government & Taxation |