TITLE 14: COMMERCE
SUBTITLE C: ECONOMIC DEVELOPMENT
CHAPTER I: DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY
PART 520 ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS
SECTION 520.1300 GENERAL
Section 520.1300 General
The Dividend Income Deduction found in the Illinois Income Tax Act [35 ILCS 5/203(a)(2)(K), (b)(2)(L), (c)(2)(O), and (d)(2)(M)] provides that taxpayers may deduct from their taxable income an amount equal to those dividends that were paid to them by a High Impact Business located in a federally designated Foreign Trade Zone or Sub-Zone (see 35 ILCS 5/203(b)(2)(L)). The specific terms and conditions governing this tax deduction are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 100.2480).
(Source: Amended at 38 Ill. Reg. 457, effective December 20, 2013)