Illinois House Bill 1361: INC TX-SMALL BUSINESS CREDIT

Illinois · 104th session

What it does

Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.

Latest action

Added Co-Sponsor Rep. Martin McLaughlin (2025-04-07)

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