INC TX R & D CR-SUBCHAPTR S CO
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act. Provides that, for purposes
of the research and development credit, partners and shareholders of
Subchapter S corporations shall be allowed a credit in accordance with
the determination of income and distributive share of income under
Sections 702 and 704 and Subchapter S of the Internal Revenue Code.
Provides that this amendatory Act is declarative of existing law and
is not a new enactment. Effective immediately.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status