IllinoisHB1093104th General Assembly (2025–2026)House

INC TX-NEW BUSINESSES

Sponsored By: Jed Davis (Republican)

In Committee

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.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jed Davis

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Bill Text

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