INC TX-INVESTMENT SERVICES
Summary
Amends the Illinois Income Tax Act. Imposes a privilege tax on partnerships and S corporations engaged in the business of conducting investment management services. Provides that the tax shall be imposed at the rate of 20% of the fees calculated by reference to the performance of the investment portfolio funds and not from the investment itself. Defines "investment management services".
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2018
Committee Review
Floor Vote
Governor
Introduced Jan 19, 2018
Last action Jan 8, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
34
Key actions
1
Committee
4
Apr 13, 2018
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 14, 2018
Lower · Passed
To Growth, Reform & Fairness Subcommittee
lower
Feb 5, 2018
Committee
Assigned to Revenue & Finance Committee
lower
Jan 22, 2018
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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