Illinois HB3025 amends the Illinois Income Tax Act to modify tax credits and rates for various entities and activities.
Illinois HB3025 amends the Illinois Income Tax Act by adjusting tax credits and rates for different entities and activities. It introduces modifications to credits for education expenses, environmental remediation, and investment in qualified property. The bill also adjusts the tax rates for individuals, trusts, estates, and corporations, and introduces a surcharge on income from the sale or exchange of assets by medical cannabis registrants.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.