Section 520.1200  General

The Jobs Tax Credit found in the Illinois Income Tax Act [35 ILCS 5/201(g)] allows a taxpayer conducting a trade or business in an Enterprise Zone, or a High Impact Business conducting business in a federally designated Foreign Trade Zone or Sub-Zone to be given a tax credit against the tax imposed in Sections 201(a) and (b) of the Illinois Income Tax Act in the amount of $500 per eligible employee hired to work in the zone during the taxable year.  The specific terms and conditions governing this tax deduction are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 2120).

(Source:  Added at 27 Ill. Reg. 3282, effective February 14, 2003)