Illinois SB0252 amends the Illinois Income Tax Act to adjust tax rates and credits for various entities and activities.
Illinois SB0252 amends the Illinois Income Tax Act by adjusting tax rates and introducing new credits for various entities and activities. It modifies the tax rates for individuals, trusts, estates, and corporations based on different periods. The bill introduces credits for investment in qualified property, environmental remediation, education expenses, and research and development activities. It also includes provisions for credits related to the sale or exchange of assets by organization gaming licensees and the transfer of medical cannabis licenses.
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.