Bill Title: Amends the Illinois Income Tax Act. Imposes a privilege tax on partnerships and S corporations engaged in the business of conducting investment management services. Provides that the tax shall be imposed at the rate of 20% of the fees calculated by reference to the performance of the investment portfolio funds and not from the investment itself. Defines "investment management services".

Sponsorship: Partisan Bill (Democrat 28)

Status: (Failed) 2019-01-08 - Session Sine Die [HB4293 Detail]

Text: Latest bill text (Introduced) [HTML]

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