Section 524.530  Jobs Tax Credit

The Jobs Tax Credit found in the Illinois Income Tax Act [35 ILCS 5/201(g)] allows a taxpayer conducting a trade or business in a River Edge Redevelopment Zone to be given a tax credit against the tax imposed in Sections 201(a) and (b) of the Illinois Income Tax Act in the amount of $500 per eligible employee hired to work in the zone during the taxable year. The specific terms and conditions governing this tax deduction are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 2120).