Idaho Code § 63-3004: Internal revenue code.

The term "Internal Revenue Code" means the Internal Revenue Code as amended and in effect on the first day of January 2026, except that:

(1) Internal Revenue Code section 85 is applied as in effect on January 1, 2020; and

(2) Specified research or experimental expenditures, as defined in section 174 of the Internal Revenue Code as in effect on December 31, 2024, incurred in taxable years beginning on or after January 1, 2022, and before January 1, 2025, shall continue to be expensed under the Internal Revenue Code provisions as in effect immediately before the enactment of section 70302 of P.L. 119-21, rather than under the provisions of section 70302 of P.L. 119-21.