Bill Title: Amends the Illinois Income Tax Act. In a Section concerning apportionment of business income, provides that, if the apportionment provisions do not fairly represent the market for the person's goods, services, or other sources of business income (instead of "the extent of a person's business activity in this State"), a person may petition for, or the Director may permit or require, the following: (1) separate accounting; (2) the exclusion of any one or more factors; (3) the inclusion of one or more additional factors; or (4) the employment of any other method to effectuate an equitable allocation and apportionment of the person's business income. Makes changes concerning gains or losses included in the net income of a nonresident partners and shareholders. Makes changes concerning unitary business groups. Makes other changes.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Engrossed - Dead) 2013-05-20 - Third Reading - Short Debate - Lost 031-079-000 [SB2194 Detail]

Text: Latest bill text (Engrossed) [HTML]

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