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HB 1093

Illinois House of Representatives bill in Session 104.

Status: in_committee. Latest action: March 21, 2025.

INC TX-NEW BUSINESSES.

Bill ID IL-104-HB-1093
Session 104
Status in_committee
Committee Rules Committee
House of Representatives in_committee 2025-03-21
Business / Commerce Tax / Budget / Appropriations
Summary

Amends the Illinois Income Tax Act. Creates a deduction for 100% of the income of a qualified new business. Provides that the term "qualified new business' means a business that has its principal place of business in the State and first begins operating in the State during the taxable year. Effective immediately."

Sponsor
Jed Davis
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-01-09 Introduced Bill introduced
2025-03-21 Status in_committee
2025-03-21 Latest Action 3/21/2025 - House:
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