tax implications

44-2804. tax implications. (1) A hiring party that contributes funds to a portable benefit account pursuant to section 44-2803(3)(a) or (b), Idaho Code, may deduct as a business expense an amount equal to one hundred percent (100%) of any such contributions during the applicable tax year. (2) An independent contractor may exclude from taxable income an amount equal to one hundred percent (100%) of the amount contributed by a hiring party pursuant to section 44-2803(3)(a) or (b), Idaho Code, during the applicable tax year.