Illinois SB3848 modifies the tax deduction for insurance premiums.
Illinois SB3848 alters the tax deduction for insurance premiums, allowing taxpayers to deduct premiums paid for health insurance, life insurance, and disability insurance. The bill specifies that the deduction applies to premiums paid by individuals and businesses, affecting those who itemize deductions on their state tax returns.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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