SB1147 - REVENUE-TECH
Illinois - 103rd General Assembly
Introduced byWin Stoller, Ryan Spain
Last updated over 1 year ago
2 Co-Sponsors
Amends the Illinois Income Tax Act. Provides that, in the case of an entity that elects entity-level tax treatment under the Act, the term "net income" does not include certain distributions to retired partners or shareholders under a retirement or disability plan, to the extent that those distributions are exempt from tax under specified provisions of the Act. Effective immediately.
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