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New Illinois law eliminates franchise tax, offers tax amnesty

Illinois recently enacted legislation that offers significant benefits to delinquent taxpayers and corporations doing business in Illinois.

The new legislation phases out the Illinois franchise tax over a four year period beginning in 2020, and it establishes an amnesty program for unpaid franchise taxes and license fees owed to the Illinois Secretary of State and for unpaid taxes owed to the Illinois Department of Revenue.

Read more at Seyfarth Shaw

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