Comments: IL SB1147 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Illinois Income Tax Act. Provides that, in the case of an entity that elects entity-level tax treatment under the Act, the term "net income" does not include certain distributions to retired partners or shareholders under a retirement or disability plan, to the extent that those distributions are exempt from tax under specified provisions of the Act. Effective immediately.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed) 2023-04-28 - Rule 19(a) / Re-referred to Rules Committee [SB1147 Detail]
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed) 2023-04-28 - Rule 19(a) / Re-referred to Rules Committee [SB1147 Detail]
Text: Latest bill text (Engrossed) [HTML]
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