SB 1406

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

Franchise Tax-Repeal

Abstract

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.

Bill Sponsors (7)

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Jan 26, 2024

Senate

Added as Co-Sponsor Sen. Neil Anderson

Jul 18, 2023

Senate

Added as Co-Sponsor Sen. Sally J. Turner

Apr 17, 2023

Senate

Added as Co-Sponsor Sen. Craig Wilcox

Mar 30, 2023

Senate

Added as Co-Sponsor Sen. Andrew S. Chesney

Mar 29, 2023

Senate

Added as Chief Co-Sponsor Sen. Jason Plummer

Mar 28, 2023

Senate

Added as Co-Sponsor Sen. Dave Syverson

Feb 06, 2023

Senate

Filed with Secretary by Sen. Win Stoller

Senate

Referred to Assignments

Senate

First Reading

Bill Text

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Sources

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