IllinoisHB5526104th General Assembly (2025–2026)House

DOMESTIC FRANCHISE TAX-REPEAL

Sponsored By: Brandun Schweizer

In Committee

Summary

Amends the Business Corporation Act of 1983. Provides that, on or after January 1, 2027 and prior to January 1, 2028, the first $100,000 in liability is exempt from the franchise tax payable by domestic corporations. Provides that, in the case of a domestic corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2028. Repeals the provision concerning franchise taxes payable by domestic corporations on January 1, 2028. Effective immediately.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Brandun Schweizer

    Affiliation unavailable

Cosponsors

  • Tony M. McCombie

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. Assigned to Revenue & Finance Committee

    3/18/2026House
  3. Added Co-Sponsor Rep. Tony M. McCombie

    3/2/2026House
  4. Referred to Rules Committee

    2/13/2026House
  5. First Reading

    2/13/2026House
  6. Filed with the Clerk by Rep. Brandun Schweizer

    2/6/2026House

Bill Text

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