Added as Co-Sponsor Sen. David Koehler
Summary
The bill modifies the Illinois Income Tax Act so that, after 2025, businesses whose overseas activity makes up 80% or more of their total will no longer be excluded from a taxpayer’s unitary business group. It also clarifies that “United States” includes all states, DC, territories, possessions, and any area under U.S. jurisdiction for natural‑resource rights, and adds joint‑and‑several liability rules for members of combined reporting groups. These changes affect corporations and other entities that file combined or unitary tax returns.
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