Comments: IL HB5738 | 2017-2018 | 100th General Assembly

Bill Title: Amends the Business Corporation Act of 1983. Increases from $200 to $500 the minimum base penalty for transacting business in this State without authority. Provides that a corporation that effects a change in the number of issued shares or the amount of paid-in capital prior to January 1, 2019, rather than effecting a change at any time, shall file a report regarding the issued shares or paid-in capital. Provides that franchise taxes are not payable on or after January 1, 2019. Provides that on and after January 1, 2019, a corporation that fails to file an annual report shall pay a penalty of $50 plus $10 per month or part of a month that the report is delinquent.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2018-02-16 - Referred to Rules Committee [HB5738 Detail]

Text: Latest bill text (Introduced) [HTML]

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