Wednesday, June 18, 2014

Ketchum Takes Back LOT Collections From State Tax Commission

Posted By on Wed, Jun 18, 2014 at 9:44 AM

A little more than a year after the city of Ketchum asked the Idaho State Tax Commission to manage its collection of the city's local-option tax, Ketchum now says "never mind."

This morning's Idaho Mountain Express reports that the Ketchum City Council voted unanimously June 16 to exercise a parachute clause, ending a five-year agreement only one year into the contract. Ketchum officials said they were recently told by the State Tax Commission that it would take up to three years to determine which businesses needed to pay the LOT and that would cost nearly $600,000 in administrative costs.

"We may have been misrepresented a little bit in what we were getting," Ketchum Councilman Michael David told the Mountain Express.

The city is expected to take back the reins of its LOT collections Sept. 1.

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