Bill Status of SB1810 103rd General Assembly
Short Description: REVENUE-VARIOUS
Sen. John F. Curran - Jason Plummer, Dave Syverson, Win Stoller, Andrew S. Chesney, Craig Wilcox and Sally J. Turner
| 3/10/2023||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Makes changes concerning the federal depreciation deduction and net operating losses to restore provisions that were in effect prior to Public Act 102-16. Amends the Business Corporation Act of 1983. Provides that no franchise tax shall be imposed on foreign or domestic corporations on or after January 1, 2024, and repeals those provisions on January 1, 2025. Effective immediately.