The U.S. State of Idaho has approved House Bill 380, which was signed into law by the governor on 10 May 2021. As provided in the statement of purpose, this 2021 Tax Relief bill reduces all income tax brackets, reduces the number of brackets to 5, and sets the top individual and corporate tax bracket to 6.5% (down from 6.925%) with retroactive effect from 1 January 2021.