Bill Status of HB4202 100th General Assembly
Short Description: INC TX-RATES
Rep. Thomas M. Bennett
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2019, the rate of tax shall be 5% for corporations (currently, 7%). Makes conforming changes concerning distributions to the Local Government Distributive Fund. Effective immediately.