Illinois Administrative Code
Title 14 - COMMERCE
Part 524 - RIVER EDGE REDEVELOPMENT ZONE PROGRAM
Subpart F - TAX INCENTIVES
Section 524.550 - Dividend Income Deduction
Universal Citation: 14 IL Admin Code ยง 524.550
Current through Register Vol. 48, No. 12, March 22, 2024
The Dividend Income Deduction found in the Illinois Income Tax Act [35 ILCS 5/20(a)(2)(J), (b)(2)(K), (c)(2)(M) and (d)(2)(k) ] provides that taxpayers may deduct from their taxable income an amount equal to those dividends that were paid to them by a corporation that conducts substantially all of its operations in a River Edge Redevelopment Zone. The terms and conditions governing this tax deduction are found in the Illinois Department of Revenue's regulations (86 Ill. Adm. Code 2480).
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