Bill Title: Amends the Illinois Income Tax Act. Provides that a Personal Property Tax Replacement Income Tax in an additional amount equal to 7.5% of its net income shall be imposed on limited liability companies. Deletes language that exempts investment partnerships from a Personal Property Tax Replacement Income Tax.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB4798 Detail]

Text: Latest bill text (Introduced) [HTML]

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