Bill Status of HB3468 102nd General Assembly
Short Description: INC TX-RATES
Rep. Thomas M. Bennett
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2019, the rate of tax shall be 4.8% for corporations (currently, the rate is 5.25%, but it is scheduled to be reduced to 4.8% on January 1, 2025). Makes conforming changes concerning distributions to the Local Government Distributive Fund. Effective immediately.