HB 3124

  • Illinois House Bill
  • 103rd Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Inc Tx-Illinois Sources

Abstract

Amends the Illinois Income Tax Act. Provides that, when calculating the taxpayer's base income, the taxpayer's federal adjusted gross income shall be modified to exclude (i) the portion of the income or loss received from a trade or business conducted within and without Illinois and that is not derived from or connected with Illinois sources and (ii) the portion of the income or loss received from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. Effective immediately.

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Feb 17, 2023

House

First Reading

House

Referred to Rules Committee

Feb 16, 2023

House

Filed with the Clerk by Rep. Anthony DeLuca

Bill Text

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