Bill Status of HB4798  100th General Assembly

Short Description:  INCOME TAX-LLC

House Sponsors
Rep. Emanuel Chris Welch and Will Guzzardi

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/205from Ch. 120, par. 2-205

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a Personal Property Tax Replacement Income Tax in an additional amount equal to 7.5% of its net income shall be imposed on limited liability companies. Deletes language that exempts investment partnerships from a Personal Property Tax Replacement Income Tax.

DateChamber Action
  2/13/2018HouseFiled with the Clerk by Rep. Emanuel Chris Welch
  2/14/2018HouseFirst Reading
  2/14/2018HouseReferred to Rules Committee
  4/25/2018HouseAdded Co-Sponsor Rep. Will Guzzardi
  1/8/2019HouseSession Sine Die