The base amount is the amount calculated under IRC § 41(c) and IRC § 41(h) except that:
- a taxpayer’s gross receipts include only those receipts attributable to sources within Idaho as provided in Idaho Code §63-3027(q)and Idaho Code §63-3027(r); and
- a taxpayer may elect to be treated as a start-up company under IRC § 41(c)(3)(B), regardless of whether the taxpayer meets the requirements of IRC § 41(c)(3)(B)(i)(I)or IRC § 41(c)(3)(B)(i)(II). A taxpayer cannot revoke an election to be treated as a start-up company
The amount of the credit, along with the amount of any credits carried forward, cannot exceed the amount of tax due after allowance for all other income tax credits permitted. If credits earned in more than one tax year are available, the oldest credits must be applied first.