State Codes and Statutes
Statutes > Idaho > Title14 > T14ch4 > T14ch4sect14-404aESTATES OF DECEDENTS
CHAPTER 4
ESTATE AND TRANSFER TAX
14-404A. Special use valuation -- Recapture. If property valued under the special use valuation provisions of section 2032A ceases to qualify for special use valuation within the recapture period provided in section 2032A, an additional tax, equal to the amount of any increase in the state death tax credit allowed under section 2011 attributable to the change in the value of the estate resulting from the recapture required by section 2032A shall be due. The person required to provide notice to the internal revenue service that property subject to special use valuation has ceased to qualify for such valuation shall provide a copy of such notice to the commission. The limit upon assessment of the additional tax imposed by the provisions of this section, including any penalty and interest, shall be one (1) year from the date on which the commission receives such notice.
