Illinois HB1212 creates a tax credit for eligible tourism expenses incurred within the state.
Illinois HB1212 amends the Illinois Income Tax Act to introduce a tax credit for eligible expenses related to tourism activities within the state. The credit applies to expenses incurred for food, lodging, transportation, live entertainment, and business meetings. The credit is limited to $5,000 per taxpayer per year and can be carried forward for up to 18 years if unused. The credit is effective for taxable years beginning on or after January 1, 2026, and ending before January 1, 2029.
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