Taxes

University of Idaho requires the collection of applicable sales taxes, which at present are comprised only of Idaho State Sales Tax. The calculation and collection of sales taxes is an automated process handled by the Marketplace software.

For store owners:

In the state of Idaho, tangible items are generally taxable and intangible items are generally not taxable.

Taxes are required to be collected on transactions where both parties are present in the state of Idaho at the time of item transfer. What this means is, transactions where the buyer is not in the state of Idaho, and who will not be in the state of Idaho when they take possession of the item or service, are not taxed. This is automatically calculated by the Marketplace software, and appropriately attributed to a taxable- or tax-exempt revenue code in Banner.