90th General Assembly
Status of HB2495
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KUBIK-BRUNSVOLD-KLINGLER.

   35 ILCS 5/304             from Ch. 120, par. 3-304                          
   35 ILCS 5/804             from Ch. 120, par. 8-804                          
   35 ILCS 5/1501            from Ch. 120, par. 15-1501                        

        Amends the Illinois Income Tax Act.  Provides that for tax  years      
   ending on or after December 31, 1998, persons other than residents who      
   derive  business  income  from this State and one or more other states      
   shall apportion their business income  using  a  single  factor  sales      
   formula.   Provides  that  this  sales factor shall be a fraction, the      
   numerator of which is the total sales of  the  person  in  this  State      
   during  the  taxable  year,  and the denominator of which is the total      
   sales of the person everywhere during the taxable year.  Provides that      
   no penalty shall be imposed for failure to pay the estimated  tax  due      
   before  the effective date of this amendatory Act if the underpayments      
   are solely attributable to the change in the apportionment of  income.      
   In  the  definition  of "unitary business group", provides that if the      
   members' accounting periods differ,  the  common  parent's  accounting      
   period,  or if there is no common parent, the accounting period of the      
   member that is expected to have, on a recurring  basis,  the  greatest      
   Illinois  income  tax  liability  must  be  used  to  determine  which      
   apportionment  method  to  use.   Provides that the provisions of this      
   amendatory Act apply to tax years ending  on  or  after  December  31,      
   1998.  Effective immediately.                                               
   98-01-23  H  FILED WITH CLERK                                               
   98-01-23  H  ADDED AS A JOINT SPONSOR                 BRUNSVOLD             
   98-01-27  H  FIRST READING                                                  
   98-01-27  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   98-02-25  H  ADDED AS A CO-SPONSOR                    KLINGLER              
   98-05-18  H  MOTION                                   DISCHARGE HOUSE       
   98-05-18  H                                           RULES AND PLACE ON    
   98-05-18  H                                           CALENDAR FOR          
   98-05-18  H                                           CONSIDERATION         
   98-05-18  H                                           -CHURCHILL            
   98-05-18  H  MOTION LOST                              002-002-000           
   98-05-18  H                   COMMITTEE               RULES                 
   99-01-12  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary