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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by | |||||||||||||||||||||||
5 | changing Section 207 as follows:
| |||||||||||||||||||||||
6 | (35 ILCS 5/207) (from Ch. 120, par. 2-207)
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7 | Sec. 207. Net Losses.
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8 | (a) If after applying all of the (i) modifications
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9 | provided for in paragraph (2) of Section 203(b), paragraph (2) | |||||||||||||||||||||||
10 | of Section
203(c) and paragraph (2) of Section 203(d) and (ii) | |||||||||||||||||||||||
11 | the allocation and
apportionment provisions of Article 3 of | |||||||||||||||||||||||
12 | this
Act and subsection (c) of this Section, the taxpayer's | |||||||||||||||||||||||
13 | net income results in a loss;
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14 | (1) for any taxable year ending prior to December 31, | |||||||||||||||||||||||
15 | 1999, such loss
shall be allowed
as a carryover or | |||||||||||||||||||||||
16 | carryback deduction in the manner allowed under Section
| |||||||||||||||||||||||
17 | 172 of the Internal Revenue Code;
| |||||||||||||||||||||||
18 | (2) for any taxable year ending on or after December | |||||||||||||||||||||||
19 | 31, 1999 and prior
to December 31, 2003, such loss
shall be | |||||||||||||||||||||||
20 | allowed as a carryback to each of the 2 taxable years | |||||||||||||||||||||||
21 | preceding the
taxable year of such loss and shall be a net | |||||||||||||||||||||||
22 | operating loss carryover to each of the
20 taxable years | |||||||||||||||||||||||
23 | following the taxable year of such loss;
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| |||||||
1 | (3) for any taxable year ending on or after December | ||||||
2 | 31, 2003 and prior to December 31, 2021, such loss
shall be | ||||||
3 | allowed as a net operating loss carryover to each of the 12 | ||||||
4 | taxable years
following the taxable year of such loss, | ||||||
5 | except as provided in subsection (d); and
| ||||||
6 | (4) for any taxable year ending on or after December
| ||||||
7 | 31, 2021, and for any net loss incurred in a taxable year | ||||||
8 | prior to a taxable year ending on or after December
31, | ||||||
9 | 2021 for which the statute of limitation for utilization | ||||||
10 | of such net loss has not expired, such loss shall be | ||||||
11 | allowed as a net operating loss carryover to each of the 20 | ||||||
12 | taxable years following the taxable year of such loss, | ||||||
13 | except as provided in subsection (d). | ||||||
14 | (a-5) Election to relinquish carryback and order of | ||||||
15 | application of
losses.
| ||||||
16 | (A) For losses incurred in tax years ending prior | ||||||
17 | to December 31,
2003, the taxpayer may elect to | ||||||
18 | relinquish the entire carryback period
with respect to | ||||||
19 | such loss. Such election shall be made in the form and | ||||||
20 | manner
prescribed by the Department and shall be made | ||||||
21 | by the due date (including
extensions of time) for | ||||||
22 | filing the taxpayer's return for the taxable year in
| ||||||
23 | which such loss is incurred, and such election, once | ||||||
24 | made, shall be
irrevocable.
| ||||||
25 | (B) The entire amount of such loss shall be | ||||||
26 | carried to the earliest
taxable year to which such |
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| |||||||
1 | loss may be carried. The amount of such loss which
| ||||||
2 | shall be carried to each of the other taxable years | ||||||
3 | shall be the excess, if
any, of the amount of such loss | ||||||
4 | over the sum of the deductions for carryback or
| ||||||
5 | carryover of such loss allowable for each of the prior | ||||||
6 | taxable years to which
such loss may be carried.
| ||||||
7 | (b) Any loss determined under subsection (a) of this | ||||||
8 | Section must be carried
back or carried forward in the same | ||||||
9 | manner for purposes of subsections (a)
and (b) of Section 201 | ||||||
10 | of this Act as for purposes of subsections (c) and
(d) of | ||||||
11 | Section 201 of this Act.
| ||||||
12 | (c) Notwithstanding any other provision of this Act, for | ||||||
13 | each taxable year ending on or after December 31, 2008, for | ||||||
14 | purposes of computing the loss for the taxable year under | ||||||
15 | subsection (a) of this Section and the deduction taken into | ||||||
16 | account for the taxable year for a net operating loss | ||||||
17 | carryover under paragraphs (1), (2), and (3) of subsection (a) | ||||||
18 | of this Section, the loss and net operating loss carryover | ||||||
19 | shall be reduced in an amount equal to the reduction to the net | ||||||
20 | operating loss and net operating loss carryover to the taxable | ||||||
21 | year, respectively, required under Section 108(b)(2)(A) of the | ||||||
22 | Internal Revenue Code, multiplied by a fraction, the numerator | ||||||
23 | of which is the amount of discharge of indebtedness income | ||||||
24 | that is excluded from gross income for the taxable year (but | ||||||
25 | only if the taxable year ends on or after December 31, 2008) | ||||||
26 | under Section 108(a) of the Internal Revenue Code and that |
| |||||||
| |||||||
1 | would have been allocated and apportioned to this State under | ||||||
2 | Article 3 of this Act but for that exclusion, and the | ||||||
3 | denominator of which is the total amount of discharge of | ||||||
4 | indebtedness income excluded from gross income under Section | ||||||
5 | 108(a) of the Internal Revenue Code for the taxable year. The | ||||||
6 | reduction required under this subsection (c) shall be made | ||||||
7 | after the determination of Illinois net income for the taxable | ||||||
8 | year in which the indebtedness is discharged.
| ||||||
9 | (d) In the case of a corporation (other than a Subchapter S | ||||||
10 | corporation), no carryover deduction shall be allowed under | ||||||
11 | this Section for any taxable year ending after December 31, | ||||||
12 | 2010 and prior to December 31, 2012, and no carryover | ||||||
13 | deduction shall exceed $100,000 for any taxable year ending on | ||||||
14 | or after December 31, 2012 and prior to December 31, 2014 and | ||||||
15 | for any taxable year ending on or after December 31, 2021 and | ||||||
16 | before December 31, 2023 prior to December 31, 2024 ; provided | ||||||
17 | that, for purposes of determining the taxable years to which a | ||||||
18 | net loss may be carried under subsection (a) of this Section, | ||||||
19 | no taxable year for which a deduction is disallowed under this | ||||||
20 | subsection, or for which the deduction would exceed $100,000 | ||||||
21 | if not for this subsection, shall be counted. | ||||||
22 | (e) In the case of a residual interest holder in a real | ||||||
23 | estate mortgage investment conduit subject to Section 860E of | ||||||
24 | the Internal Revenue Code, the net loss in subsection (a) | ||||||
25 | shall be equal to: | ||||||
26 | (1) the amount computed under subsection (a), without |
| |||||||
| |||||||
1 | regard to this subsection (e), or if that amount is | ||||||
2 | positive, zero; | ||||||
3 | (2) minus an amount equal to the amount computed under | ||||||
4 | subsection (a), without regard to this subsection (e), | ||||||
5 | minus the amount that would be computed under subsection | ||||||
6 | (a) if the taxpayer's federal taxable income were computed | ||||||
7 | without regard to Section 860E of the Internal Revenue | ||||||
8 | Code and without regard to this subsection (e). | ||||||
9 | The modification in this subsection (e) is exempt from the | ||||||
10 | provisions of Section 250. | ||||||
11 | (Source: P.A. 102-16, eff. 6-17-21; 102-669, eff. 11-16-21.)
| ||||||
12 | Section 10. The Business Corporation Act of 1983 is | ||||||
13 | amended by changing Sections 15.35 and 15.65 as follows:
| ||||||
14 | (805 ILCS 5/15.35) (from Ch. 32, par. 15.35)
| ||||||
15 | (Text of Section from P.A. 102-16)
| ||||||
16 | Sec. 15.35. Franchise taxes payable by domestic | ||||||
17 | corporations. For the privilege of exercising its franchises | ||||||
18 | in this State, each
domestic corporation shall pay to the | ||||||
19 | Secretary of State the following
franchise taxes, computed on | ||||||
20 | the basis, at the rates and for the periods
prescribed in this | ||||||
21 | Act:
| ||||||
22 | (a) An initial franchise tax at the time of filing its | ||||||
23 | first report of
issuance of shares.
| ||||||
24 | (b) An additional franchise tax at the time of filing |
| |||||||
| |||||||
1 | (1) a report of
the issuance of additional shares, or (2) a | ||||||
2 | report of an increase in paid-in
capital without the | ||||||
3 | issuance of shares, or (3) an amendment to the articles
of | ||||||
4 | incorporation or a report of cumulative changes in paid-in | ||||||
5 | capital,
whenever any amendment or such report discloses | ||||||
6 | an increase in its paid-in
capital over the amount thereof | ||||||
7 | last reported in any document, other than
an annual | ||||||
8 | report, interim annual report or final transition annual | ||||||
9 | report
required by this Act to be filed in the office of | ||||||
10 | the Secretary of State.
| ||||||
11 | (c) An additional franchise tax at the time of filing | ||||||
12 | a report of paid-in
capital following a statutory merger | ||||||
13 | or consolidation, which discloses that
the paid-in capital | ||||||
14 | of the surviving or new corporation immediately after
the | ||||||
15 | merger or consolidation is greater than the sum of the | ||||||
16 | paid-in capital
of all of the merged or consolidated | ||||||
17 | corporations as last reported
by them in any documents, | ||||||
18 | other than annual reports, required by this Act
to be | ||||||
19 | filed in the office of the Secretary of State; and in | ||||||
20 | addition, the
surviving or new corporation shall be liable | ||||||
21 | for a further additional franchise
tax on the paid-in | ||||||
22 | capital of each of the merged or consolidated
corporations | ||||||
23 | as last reported by them in any document, other than an | ||||||
24 | annual
report, required by this Act to be filed with the | ||||||
25 | Secretary of State from
their taxable year end to the next | ||||||
26 | succeeding anniversary month or, in
the case of a |
| |||||||
| |||||||
1 | corporation which has established an extended filing | ||||||
2 | month,
the extended filing month of the surviving or new | ||||||
3 | corporation; however if
the taxable year ends within the | ||||||
4 | 2-month period immediately preceding the
anniversary month | ||||||
5 | or, in the case of a corporation which has established an
| ||||||
6 | extended filing month, the extended filing month of the | ||||||
7 | surviving or new
corporation the tax will be computed to | ||||||
8 | the anniversary month or, in the
case of a corporation | ||||||
9 | which has established an extended filing month, the
| ||||||
10 | extended filing month of the surviving or new corporation | ||||||
11 | in the next
succeeding calendar year.
| ||||||
12 | (d) An annual franchise tax payable each year with the | ||||||
13 | annual report
which the corporation is required by this | ||||||
14 | Act to file.
| ||||||
15 | On or after January 1, 2020 and prior to January 1, 2021, | ||||||
16 | the first $30 in liability is exempt from the tax imposed under | ||||||
17 | this Section. On or after January 1, 2021 and prior to
January | ||||||
18 | 1, 2024 , the first $1,000 in liability is exempt from the tax | ||||||
19 | imposed under this Section. The provisions of this Section | ||||||
20 | shall not require
the payment of any franchise tax that would | ||||||
21 | otherwise have
been due and payable on or after January 1, | ||||||
22 | 2024. There shall
be no refunds or proration of franchise tax | ||||||
23 | for any taxes due
and payable on or after January 1, 2024 on | ||||||
24 | the basis that a
portion of the corporation's taxable year | ||||||
25 | extends beyond
January 1, 2024. Public Act 101-9 shall not | ||||||
26 | affect any right accrued or established, or
any liability or |
| |||||||
| |||||||
1 | penalty incurred, prior to January 1, 2024. | ||||||
2 | This Section is repealed on January 1, 2025. | ||||||
3 | (Source: P.A. 101-9, eff. 6-5-19; 102-16, eff. 6-17-21.)
| ||||||
4 | (Text of Section from P.A. 102-282)
| ||||||
5 | Sec. 15.35. Franchise taxes payable by domestic | ||||||
6 | corporations. For the privilege of exercising its franchises | ||||||
7 | in this State, each
domestic corporation shall pay to the | ||||||
8 | Secretary of State the following
franchise taxes, computed on | ||||||
9 | the basis, at the rates and for the periods
prescribed in this | ||||||
10 | Act:
| ||||||
11 | (a) An initial franchise tax at the time of filing its | ||||||
12 | first report of
issuance of shares.
| ||||||
13 | (b) An additional franchise tax at the time of filing | ||||||
14 | (1) a report of
the issuance of additional shares, or (2) a | ||||||
15 | report of an increase in paid-in
capital without the | ||||||
16 | issuance of shares, or (3) an amendment to the articles
of | ||||||
17 | incorporation or a report of cumulative changes in paid-in | ||||||
18 | capital,
whenever any amendment or such report discloses | ||||||
19 | an increase in its paid-in
capital over the amount thereof | ||||||
20 | last reported in any document, other than
an annual | ||||||
21 | report, interim annual report or final transition annual | ||||||
22 | report
required by this Act to be filed in the office of | ||||||
23 | the Secretary of State.
| ||||||
24 | (c) An additional franchise tax at the time of filing | ||||||
25 | a report of paid-in
capital following a statutory merger |
| |||||||
| |||||||
1 | or consolidation, which discloses that
the paid-in capital | ||||||
2 | of the surviving or new corporation immediately after
the | ||||||
3 | merger or consolidation is greater than the sum of the | ||||||
4 | paid-in capital
of all of the merged or consolidated | ||||||
5 | corporations as last reported
by them in any documents, | ||||||
6 | other than annual reports, required by this Act
to be | ||||||
7 | filed in the office of the Secretary of State; and in | ||||||
8 | addition, the
surviving or new corporation shall be liable | ||||||
9 | for a further additional franchise
tax on the paid-in | ||||||
10 | capital of each of the merged or consolidated
corporations | ||||||
11 | as last reported by them in any document, other than an | ||||||
12 | annual
report, required by this Act to be filed with the | ||||||
13 | Secretary of State from
their taxable year end to the next | ||||||
14 | succeeding anniversary month or, in
the case of a | ||||||
15 | corporation which has established an extended filing | ||||||
16 | month,
the extended filing month of the surviving or new | ||||||
17 | corporation; however if
the taxable year ends within the | ||||||
18 | 2-month period immediately preceding the
anniversary month | ||||||
19 | or, in the case of a corporation which has established an
| ||||||
20 | extended filing month, the extended filing month of the | ||||||
21 | surviving or new
corporation the tax will be computed to | ||||||
22 | the anniversary month or, in the
case of a corporation | ||||||
23 | which has established an extended filing month, the
| ||||||
24 | extended filing month of the surviving or new corporation | ||||||
25 | in the next
succeeding calendar year.
| ||||||
26 | (d) An annual franchise tax payable each year with the |
| |||||||
| |||||||
1 | annual report
which the corporation is required by this | ||||||
2 | Act to file.
| ||||||
3 | On or after January 1, 2020 and prior to January 1, 2021, | ||||||
4 | the first $30 in liability is exempt from the tax imposed under | ||||||
5 | this Section. On or after January 1, 2021 and prior to January | ||||||
6 | 1, 2022, the first $1,000 in liability is exempt from the tax | ||||||
7 | imposed under this Section. On or after January 1, 2022 and | ||||||
8 | prior to January 1, 2023, the first $10,000 in liability is | ||||||
9 | exempt from the tax imposed under this Section. On or after | ||||||
10 | January 1, 2023 and prior to January 1, 2024, the first | ||||||
11 | $100,000 in liability is exempt from the tax imposed under | ||||||
12 | this Section. The provisions of this Section shall not require | ||||||
13 | the payment of any franchise tax that would otherwise have | ||||||
14 | been due and payable on or after January 1, 2024. There shall | ||||||
15 | be no refunds or proration of franchise tax for any taxes due | ||||||
16 | and payable on or after January 1, 2024 on the basis that a | ||||||
17 | portion of the corporation's taxable year extends beyond | ||||||
18 | January 1, 2024. Public Act 101-9 shall not affect any right | ||||||
19 | accrued or established, or any liability or penalty incurred | ||||||
20 | prior to January 1, 2024. | ||||||
21 | This Section is repealed on January 1, 2025 December 31, | ||||||
22 | 2024 . | ||||||
23 | (Source: P.A. 101-9, eff. 6-5-19; 102-282, eff. 1-1-22.)
| ||||||
24 | (Text of Section from P.A. 102-558)
| ||||||
25 | Sec. 15.35. Franchise taxes payable by domestic |
| |||||||
| |||||||
1 | corporations. For the privilege of exercising its franchises | ||||||
2 | in this State, each
domestic corporation shall pay to the | ||||||
3 | Secretary of State the following
franchise taxes, computed on | ||||||
4 | the basis, at the rates and for the periods
prescribed in this | ||||||
5 | Act:
| ||||||
6 | (a) An initial franchise tax at the time of filing its | ||||||
7 | first report of
issuance of shares.
| ||||||
8 | (b) An additional franchise tax at the time of filing | ||||||
9 | (1) a report of
the issuance of additional shares, or (2) a | ||||||
10 | report of an increase in paid-in
capital without the | ||||||
11 | issuance of shares, or (3) an amendment to the articles
of | ||||||
12 | incorporation or a report of cumulative changes in paid-in | ||||||
13 | capital,
whenever any amendment or such report discloses | ||||||
14 | an increase in its paid-in
capital over the amount thereof | ||||||
15 | last reported in any document, other than
an annual | ||||||
16 | report, interim annual report or final transition annual | ||||||
17 | report
required by this Act to be filed in the office of | ||||||
18 | the Secretary of State.
| ||||||
19 | (c) An additional franchise tax at the time of filing | ||||||
20 | a report of paid-in
capital following a statutory merger | ||||||
21 | or consolidation, which discloses that
the paid-in capital | ||||||
22 | of the surviving or new corporation immediately after
the | ||||||
23 | merger or consolidation is greater than the sum of the | ||||||
24 | paid-in capital
of all of the merged or consolidated | ||||||
25 | corporations as last reported
by them in any documents, | ||||||
26 | other than annual reports, required by this Act
to be |
| |||||||
| |||||||
1 | filed in the office of the Secretary of State; and in | ||||||
2 | addition, the
surviving or new corporation shall be liable | ||||||
3 | for a further additional franchise
tax on the paid-in | ||||||
4 | capital of each of the merged or consolidated
corporations | ||||||
5 | as last reported by them in any document, other than an | ||||||
6 | annual
report, required by this Act to be filed with the | ||||||
7 | Secretary of State from
their taxable year end to the next | ||||||
8 | succeeding anniversary month or, in
the case of a | ||||||
9 | corporation which has established an extended filing | ||||||
10 | month,
the extended filing month of the surviving or new | ||||||
11 | corporation; however if
the taxable year ends within the | ||||||
12 | 2-month period immediately preceding the
anniversary month | ||||||
13 | or, in the case of a corporation which has established an
| ||||||
14 | extended filing month, the extended filing month of the | ||||||
15 | surviving or new
corporation the tax will be computed to | ||||||
16 | the anniversary month or, in the
case of a corporation | ||||||
17 | which has established an extended filing month, the
| ||||||
18 | extended filing month of the surviving or new corporation | ||||||
19 | in the next
succeeding calendar year.
| ||||||
20 | (d) An annual franchise tax payable each year with the | ||||||
21 | annual report
which the corporation is required by this | ||||||
22 | Act to file.
| ||||||
23 | On or after January 1, 2020 and prior to January 1, 2021, | ||||||
24 | the first $30 in liability is exempt from the tax imposed under | ||||||
25 | this Section. On or after January 1, 2021 and prior to January | ||||||
26 | 1, 2022, the first $1,000 in liability is exempt from the tax |
| |||||||
| |||||||
1 | imposed under this Section. On or after January 1, 2022 and | ||||||
2 | prior to January 1, 2023, the first $10,000 in liability is | ||||||
3 | exempt from the tax imposed under this Section. On or after | ||||||
4 | January 1, 2023 and prior to January 1, 2024, the first | ||||||
5 | $100,000 in liability is exempt from the tax imposed under | ||||||
6 | this Section. The provisions of this Section shall not require | ||||||
7 | the payment of any franchise tax that would otherwise have | ||||||
8 | been due and payable on or after January 1, 2024. There shall | ||||||
9 | be no refunds or proration of franchise tax for any taxes due | ||||||
10 | and payable on or after January 1, 2024 on the basis that a | ||||||
11 | portion of the corporation's taxable year extends beyond | ||||||
12 | January 1, 2024. Public Act 101-9 shall not affect any right | ||||||
13 | accrued or established, or any liability or penalty incurred | ||||||
14 | prior to January 1, 2024. | ||||||
15 | This Section is repealed on January 1, 2025 December 31, | ||||||
16 | 2025 . | ||||||
17 | (Source: P.A. 101-9, eff. 6-5-19; 102-558, eff. 8-20-21. )
| ||||||
18 | (805 ILCS 5/15.65) (from Ch. 32, par. 15.65)
| ||||||
19 | Sec. 15.65. Franchise taxes payable by foreign | ||||||
20 | corporations. For the privilege of exercising its authority to | ||||||
21 | transact such business
in this State as set out in its | ||||||
22 | application therefor or any amendment
thereto, each foreign | ||||||
23 | corporation shall pay to the Secretary of State the
following | ||||||
24 | franchise taxes, computed on the basis, at the rates and for | ||||||
25 | the
periods prescribed in this Act:
|
| |||||||
| |||||||
1 | (a) An initial franchise tax at the time of filing its | ||||||
2 | application for
authority to transact business in this | ||||||
3 | State.
| ||||||
4 | (b) An additional franchise tax at the time of filing | ||||||
5 | (1) a report of
the issuance of additional shares, or (2) a | ||||||
6 | report of an increase in paid-in
capital without the | ||||||
7 | issuance of shares, or (3) a report of cumulative
changes | ||||||
8 | in paid-in capital or a report of an exchange or | ||||||
9 | reclassification
of shares, whenever any such report | ||||||
10 | discloses an increase in its paid-in
capital over the | ||||||
11 | amount thereof last reported in any document, other than
| ||||||
12 | an annual report, interim annual report or final | ||||||
13 | transition annual report,
required by this Act to be filed | ||||||
14 | in the office of the Secretary of State.
| ||||||
15 | (c) Whenever the corporation shall be a party to a | ||||||
16 | statutory merger and
shall be the surviving corporation, | ||||||
17 | an additional franchise tax at the time
of filing its | ||||||
18 | report following merger, if such report discloses that the
| ||||||
19 | amount represented in this State of its paid-in capital | ||||||
20 | immediately after
the merger is greater than the aggregate | ||||||
21 | of the amounts represented in this
State of the paid-in | ||||||
22 | capital of such of the merged corporations as were
| ||||||
23 | authorized to transact business in this State at the time | ||||||
24 | of the merger, as
last reported by them in any documents, | ||||||
25 | other than annual reports, required
by this Act to be | ||||||
26 | filed in the office of the Secretary of State; and in
|
| |||||||
| |||||||
1 | addition, the surviving corporation shall be liable for a | ||||||
2 | further
additional franchise tax on the paid-in capital of | ||||||
3 | each of the merged
corporations as last reported by them | ||||||
4 | in any document, other than an annual
report, required by | ||||||
5 | this Act to be filed with the Secretary
of State, from | ||||||
6 | their taxable year end to the next succeeding anniversary
| ||||||
7 | month or, in the case of a corporation which has | ||||||
8 | established an extended
filing month, the extended filing | ||||||
9 | month of the surviving corporation;
however if the taxable | ||||||
10 | year ends within the 2-month period immediately
preceding | ||||||
11 | the anniversary month or the extended filing month of the
| ||||||
12 | surviving corporation, the tax will be computed to the | ||||||
13 | anniversary or,
extended filing month of the surviving | ||||||
14 | corporation in the next succeeding
calendar year.
| ||||||
15 | (d) An annual franchise tax payable each year with any
| ||||||
16 | annual report which the corporation is required by this | ||||||
17 | Act to file.
| ||||||
18 | On or after January 1, 2020 and prior to January 1, 2021, | ||||||
19 | the first $30 in liability is exempt from the tax imposed under | ||||||
20 | this Section. On or after January 1, 2021 and prior to
January | ||||||
21 | 1, 2024 , the first $1,000 in liability is exempt from the tax | ||||||
22 | imposed under this Section. The provisions of this Section | ||||||
23 | shall not require
the payment of any franchise tax that would | ||||||
24 | otherwise have
been due and payable on or after January 1, | ||||||
25 | 2024. There shall
be no refunds or proration of franchise tax | ||||||
26 | for any taxes due
and payable on or after January 1, 2024 on |
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1 | the basis that a
portion of the corporation's taxable year | ||||||
2 | extends beyond
January 1, 2024. Public Act 101-9 shall not | ||||||
3 | affect any right accrued or established, or
any liability or | ||||||
4 | penalty incurred, prior to January 1, 2024. | ||||||
5 | This Section is repealed on January 1, 2025. | ||||||
6 | (Source: P.A. 101-9, eff. 6-5-19; 102-16, eff. 6-17-21; | ||||||
7 | 102-558, eff. 8-20-21; 102-813, eff. 5-13-22 .)
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8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law.
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