Bill Status of HB0345 100th General Assembly
Short Description: INC TX-DEDUCT MANUFACTURING
Rep. David McSweeney - Avery Bourne, Martin J. Moylan, Thomas Morrison, Anthony DeLuca and Kathleen Willis
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a deduction for corporations in an amount equal to 100% of the portion of the taxpayer's Illinois net income for the taxable year that is earned by the taxpayer as a result of a manufacturing process. Provides that the deduction is exempt from the Act's automatic sunset provision. Effective immediately.