INC TX-PASS THROUGH ENTITIES
- Introduced Oct 4, 2023
- In committee Oct 18, 2023
- Died
- Passed the Senate
- To the governor
- Became law
What it does
The legislature's own summary of the bill, or its official long title.
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 the portion of the income or loss received from a trade or business conducted within and without Illinois or from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. In…
Read the full title (131 words)
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 the portion of the income or loss received from a trade or business conducted within and without Illinois or from a pass-through entity conducting business within and without Illinois that is not derived from or connected with Illinois sources. In provisions concerning the pass-through entity tax, provides that, if a Schedule K-1-P is issued to a partner or shareholder by the partnership or corporation indicating that the tax has been paid by the partnership or corporation, the Department of Revenue shall collect any past due amounts that are represented on the K-1-P from the partnership or corporation and not from the partner or shareholder. Effective immediately.
Every action
4 steps, oldest first, as the legislature records them.
- HouseFiled with the Clerk by Rep. Michael T. Marron
- HouseFirst Reading
- CommitteeReferred to Rules Committee · House Rules
- HouseSession Sine Die
Roll calls
No recorded votes on this bill yet.
Sponsors
The member who introduced it.
-
Michael T. MarronR Primary sponsor · District 104
From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.