Bill Status of SB2358 102nd General Assembly
Short Description: INCOME TAX-PASS THROUGH
Sen. Don Harmon
| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, when calculating the taxpayer's base income, the taxpayer's federal adjusted gross income shall be modified to exclude the portion of the income or loss received from a trade or business conducted within and without Illinois or from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. Repeals provisions concerning a credit for foreign taxes. Effective immediately.
|Date||Chamber|| Action|| 2/26/2021||Senate||Filed with Secretary by Sen. John Connor|| 2/26/2021||Senate||First Reading|| 2/26/2021||Senate||Referred to Assignments|| 3/23/2021||Senate||Assigned to Revenue|| 3/23/2021||Senate||Senate Committee Amendment No. 1 Filed with Secretary by Sen. John Connor|| 3/23/2021||Senate||Senate Committee Amendment No. 1 Referred to Assignments|| 3/25/2021||Senate||Senate Committee Amendment No. 1 Assignments Refers to Revenue|| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|| 4/16/2021||Senate||Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments|| 4/30/2022||Senate||Chief Sponsor Changed to Sen. Don Harmon|