41: Corporation Income Tax Return and Instructions 2024 (2024)
Idaho · Idaho Tax Commission · Used for tax years 2024
Idaho Form 41 is the Corporation Income Tax Return for 2024. It reports federal taxable income, Idaho additions and subtractions, income allocated or apportioned to Idaho, taxes, credits, payments, and any refund or amount due. It can be used for an original or amended return.
Who files this form
Form 41 is Idaho’s corporation income tax return. Use the 2024 version for calendar year 2024 or a fiscal year that begins in 2024.
The included instructions identify homeowners’ associations, inactive or nameholder corporations, and nonproductive mining corporations registered to do business in Idaho as corporations required to file. They also address corporations filing as part of a unitary group.
An inactive or nameholder corporation is authorized to transact business in Idaho but has no business activity and no income attributable to Idaho.
What you'll need
Include a complete copy of your federal Form 1120 with your Idaho return. Have your business name, mailing address, EIN, and NAICS business activity code ready.
Depending on your situation, also include:
- Supporting schedules for income adjustments, depreciation, allocated income, and related expenses where required.
- Form 42 for multistate or multinational operations.
- Form 41A if you answer yes to any of questions 7 through 7d.
- Form 14 if you elect the water’s-edge method.
- Form 56 or a loss application schedule for an Idaho net operating loss carryover or carryback.
- Form 44 for business income tax credits or recapture of those credits.
- Form 75 for fuels use tax or fuel tax refunds.
- Form 49E if you elected the property tax exemption for qualifying investment tax credit property, or Form 49ER for qualified investment exemption recapture.
- Form 41ESR for underpayment interest.
- Copies of Form ID K-1s if an affected business entity paid tax on the corporation’s behalf.
- The Idaho Reimbursement Incentive Certificate if claiming that credit.
How to file
Complete both pages, answer the applicable questions, and attach your federal return and required supporting forms. An authorized individual must sign on behalf of the corporation. Don’t staple the return.
Mail a return with payment to:
Idaho State Tax Commission
PO Box 83784
Boise ID 83707-3784
Mail a return without payment to:
Idaho State Tax Commission
PO Box 56
Boise ID 83756-0056
Common mistakes
- Leaving questions unanswered. Answer each question in the questions 1–10 section. Incomplete returns delay processing, and unanswered questions are assumed to be “no.”
- Including a dash in the EIN. Enter the EIN without the dash.
- Not rounding amounts. Round to the nearest whole dollar: down for amounts under 50 cents and up for 50 cents or more.
- Reporting sales or use tax twice. If you have an Idaho sales or use tax account, report the tax on those returns, not on Form 41, line 47.
- Trying to change a water’s-edge election on an amended return. The instructions say you can’t change that election when amending.
- Completing the amended-return section on an original return. Complete lines 64–67 only for an amended return.
Questions people ask
Can I use Form 41 to amend my return?
Yes. Check the amended-return box and enter the number for your reason. Complete the entire form using corrected amounts and complete lines 64–67. For reason 5, “Other,” include an explanation.
What do I enter for the apportionment factor if all activity is in Idaho?
Enter 100% on line 33. Corporations with multistate or multinational operations must complete and include Form 42 and use its apportionment factor.
Can I apply my overpayment to 2025?
Yes. On an original 2024 return, enter the amount you want refunded on line 63. The remaining overpayment is applied to your 2025 tax and won’t be refunded.
Is there a time limit to claim a refund?
You have three years from the return’s due date, not including extensions, to claim a refund. Refunds of less than $1 won’t be issued.
Can I undo a donation to the Opportunity Scholarship Program?
No. The donation reduces your refund or increases your tax due. Once you choose to donate, you can’t change that choice or get the donation refunded later.