INC TX-SALES FACTOR EQUATION
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act concerning the apportionment
of business income for persons other than residents. Deletes the
component of the sales factor providing that certain property shipped
from this State to the U.S. government or to a person not taxable in
the state of the purchaser is a sale of tangible personal property in
this State. Deletes the provision providing that sales of tangible
personal property are not in this State if the seller and purchaser
would be, in certain instances, members of the same unitary business
group. Effective immediately.
HOUSE AMENDMENT NO. 1.
Deletes reference to:
35 ILCS 5/304
Adds reference to:
35 ILCS 5/101 from Ch. 120, par. 1-101
Deletes everything. Amends the Illinois Income Tax Act concerning
the short title. Makes a technical change.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status