SB1406 - FRANCHISE TAX-REPEAL
Illinois - 103rd General Assembly
Introduced byWin Stoller, Jason Plummer, Dave Syverson
Last updated over 1 year ago
6 Co-Sponsors
Amends the Business Corporation Act of 1983. Provides that, in the case of a domestic or foreign corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2024. Repeals those Sections on January 1, 2025. Directs the Legislative Reference Bureau to prepare a bill effecting necessary changes to conform the statutes to the changes made by the amendatory Act. Effective immediately.
STATUS
Introduced
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