Illinois HB2872 amends the Economic Development for a Growing Economy Tax Credit Act to allow certain pharmacy, health, and wellness businesses to.
HB2872 amends the Economic Development for a Growing Economy Tax Credit Act to allow taxpayers engaged in pharmacy, health, and wellness businesses to claim tax credits against withholding taxes. Eligible businesses must maintain their corporate headquarters in Illinois, employ a minimum of 500 employees, and have at least 2,500 employees in full-time jobs or full-time equivalent jobs, some of whom would be at risk of termination without the credit. The credit can be used to offset withholding taxes under the Illinois Income Tax Act.
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