Bill Status of SB1672 98th General Assembly
Short Description: INC TX-R & D CREDIT
Sen. Matt Murphy
| 1/13/2015||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Reinstates the research and development credit for taxable years ending prior to January 1, 2018 (now, January 1, 2016). Increases the amount of the research and development credit from 6.5% to 8% of the qualifying expenditures for increasing research activities in this State for taxable years ending on or after December 31, 2013. Effective immediately.