Bill Status of HB4798 100th General Assembly
Short Description: INCOME TAX-LLC
Rep. Emanuel Chris Welch and Will Guzzardi
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a Personal Property Tax Replacement Income Tax in an additional amount equal to 7.5% of its net income shall be imposed on limited liability companies. Deletes language that exempts investment partnerships from a Personal Property Tax Replacement Income Tax.