92nd General Assembly
Summary of HB4908
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House Sponsors:

Short description: 
INCOME TAX-NET LOSSES                                                      

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act. Provides  that,  for  taxable      
   years  ending  on or after December 31, 2003 and on or before December      
   30, 2008, net losses shall not be allowed as a carryback and shall  be      
   a net operating carryover to each of the 5 taxable years following the      
   taxable year of such loss (now, and beginning again at the end of this      
   period,  may  carry net losses back for 2 years and carry them forward      
   for 20 years). Effective immediately.                                       
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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