INC TX-ILLINOIS SOURCES
Summary
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 income or loss that is 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 income or loss that is received from a pass-through entity conducting business within and without Illinois and that is not derived from or connected with Illinois sources. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2023
Last action Mar 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
0
Committee
3
Mar 10, 2023
Committee
Rule 3-9(a) / Re-referred to Assignments
lower
Feb 21, 2023
Committee
Assigned to Revenue
lower
Feb 9, 2023
Committee
Referred to Assignments
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Chapin Rose
RRepublican
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