Bill Status of HB4293 100th General Assembly
Short Description: INC TX-INVESTMENT SERVICES
Rep. Emanuel Chris Welch
|Revenue & Finance Committee Hearing Mar 1 2018 10:00AM Capitol Building Room 122B Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Imposes a privilege tax on partnerships and S corporations engaged in the business of conducting investment management services. Provides that the tax shall be imposed at the rate of 20% of the fees calculated by reference to the performance of the investment portfolio funds and not from the investment itself. Defines "investment management services".