70: Statement of Credit Transfer and Instructions 2025 (2025)
Idaho · Idaho Tax Commission · Used for tax years 2025
Idaho Form 70 reports a transfer of the broadband equipment investment credit, including the amount transferred and the tax years it was earned. The Idaho State Tax Commission uses it to identify the credit available for transfer and the carryover period available to the recipien
Who files this form
Use Form 70 to report a transfer of the broadband equipment investment credit and the number of years it can be carried forward. File a separate Form 70 for each taxpayer receiving the credit, called the transferee.
You can transfer all or part of the credit if you originally earned it or are an intermediary. An intermediary can use or resell all or part of the credit.
Only the broadband equipment investment credit can be transferred. It cannot be transferred more than twice, and you cannot transfer a credit you received through unitary sharing.
When it's due
For the tax year 2025 version of Form 70, send the form to the Idaho State Tax Commission at least 60 days before the transfer date.
What you'll need
For each tax year in which the credit being transferred was earned, include copies of:
- Idaho Form 68.
- Schedules showing the complete list of property the credit was earned on.
- The Idaho Public Utilities Commission approval authorizing the credit.
You will also need identifying information for both parties, including names, addresses, and Social Security numbers or EINs, plus the transfer date, amount being transferred, and tax years the credit was earned.
How to file
- Complete a separate Form 70 for each transferee.
- In Part I, enter the transferor’s name as it appears on the tax return for the year of transfer, identifying information, and transfer date. An intermediary selling the credit enters its own information here. Complete the authorized individual’s signature, title, and phone number fields.
- In Part II, enter the transferee’s name, address, and Social Security number or EIN. The transferee can be an intermediary.
- In Part III, enter the credit amount being transferred and the tax years it was earned. Attach the required copies.
- Send the form by mail or fax.
Mail to:
Income Tax Audit
Idaho State Tax Commission
PO Box 36
Boise ID 83722-0410
Fax to: Income Tax Audit, (208) 332-6619.
The Tax Commission will review the information, identify the credit and carryover period available, and return the form to the transferor.
Common mistakes
- Sending the form too late. It must be sent at least 60 days before the transfer date.
- Using one form for multiple transferees. File a separate Form 70 for each transferee.
- Leaving out required attachments for any year the credit was earned.
- Transferring a credit more than twice or transferring a credit received through unitary sharing. Neither is allowed.
- Forgetting to attach Form 70 to later returns. The transferee must include a copy with every income tax return on which the credit is claimed or carried over.
- Claiming the credit on an amended return for the calendar year of transfer without having claimed it on the original return for that year.
Questions people ask
Can I transfer only part of my credit?
Yes. You can transfer all or part of the broadband equipment investment credit you earn.
When can the transferee claim the credit?
The transferee can claim transferred credits on the original return filed in the calendar year of the transfer. They can claim the credit on an amended return for the calendar year of transfer only if they claimed it on the original return for that year.
What happens to credit not claimed in the year of transfer?
Credit not claimed on the return filed during the year of transfer can be claimed on the transferee’s returns during the carryforward period approved on Form 70.
Who owes tax if the transferred credit was overstated or must be recaptured?
The transferor owes any tax due from an overstated or recaptured credit. The Tax Commission may examine the transferor’s books and records to verify the credit.