SB3808 - INC TAX-MANUFACTURING
Illinois - 103rd General Assembly
Introduced byPaul Faraci
Last updated 8 months ago
1 Co-Sponsor
Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of the manufacturing capital expenditures. Provides that the total amount of credits awarded under these provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount of the credit shall be $20,000,000. Effective immediately.
STATUS
Introduced
Verifications Required
You must be a verified voter to do that.
No Thanks, I'll do it later
Verify your identity now