SB1739 amends the Illinois Income Tax Act to redefine and clarify the apportionment of income for non-resident businesses.
SB1739 amends the Illinois Income Tax Act to redefine and clarify the apportionment of income for non-resident businesses. It specifies how income from various sources, such as telecommunications services, insurance premiums, and financial transactions, should be allocated to Illinois. The bill details methods for calculating the apportionment factor, including the use of property, payroll, and sales factors. It also addresses the allocation of income from intangible assets, patents, and copyrights.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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