INC TX-ILLINOIS SOURCES

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.