Mandatory Records

Sections 63-2511, 63-2555, Idaho Code 01. In General. Every person liable for payment of taxes on cigarettes or tobacco products needs to keep and preserve the following records in date order: (7-1-25) a. A daily record of all cash and credit sales including invoices, receipts, journals, and other related records. (7-1-25) b. A record of the amount of all merchandise purchased, including all bills of lading, invoice, sales receipts, bank statements, canceled checks, and copies of purchase orders. (7-1-25) c. Supporting documents for all deductions and exemptions allowed by law or claimed on a tax return. (7-1-25) d. True and complete physical counts of the cigarette and tobacco products inventory taken at the end of each reporting period. (7-1-25) e. True and complete records of breakage and spoilage claimed as a deduction from inventory. (7-1-25) f. Other documents used in preparing or supporting the accuracy of the return. (7-1-25) 02. Records Retention. If a taxpayer appeals an assessment, all records need to be kept until final disposition of the appeal. (7-1-25) 022. – 999. (RESERVED)