The Legislature of the U.S. State of Idaho has approved the 2022 Tax Relief Bill (House Bill 436), which was sent to the governor for signature on 2 February 2022. One of the key measures of the bill is a reduction in the corporate tax rate from 6.5% to 6.0%, which applies retroactively from 1 January 2022. Further, the bill consolidates the number of individual income tax brackets from five brackets to four, with rates of 1.0%, 3.0%, 4.5%, and 6.0%, which also applies retroactively from 1 J…