Larry McKeon
- Democratic
Primary
Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2003 and on or before December 30, 2008, net losses shall not be allowed as a carryback and shall be a net operating carryover to each of the 5 taxable years following the taxable year of such loss (now, and beginning again at the end of this period, may carry net losses back for 2 years and carry them forward for 20 years). Effective immediately.
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Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Fiscal Note Filed
Assigned to Commerce and Business Development Committee
Filed with the Clerk by Rep. Larry McKeon
Referred to Rules Committee
First Reading
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