IL HB4798 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 13 2018 - 25% progression
Action: 2018-04-25 - Added Co-Sponsor Rep. Will Guzzardi
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

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.

Tracking Information

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Title

INCOME TAX-LLC

Sponsors


History

DateChamberAction
2018-04-25HouseAdded Co-Sponsor Rep. Will Guzzardi
2018-02-14HouseReferred to Rules Committee
2018-02-14HouseFirst Reading
2018-02-13HouseFiled with the Clerk by Rep. Emanuel Chris Welch

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355201Amended CodeCitation Text
355205Amended CodeCitation Text

Illinois State Sources


Bill Comments

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