Bill Status of HB 2697   104th General Assembly


Short Description:  INC TX-ESTIMATED TAX

House Sponsors
Rep. Curtis J. Tarver, II

Last Action  View All Actions

DateChamber Action
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/804from Ch. 120, par. 8-804

Synopsis As Introduced
Amends the Illinois Income Tax Act. In provisions concerning the estimated tax, provides that the required annual payment is the lesser of: (i) 90% of the tax shown on the return for the taxable year, or if no return is filed, 90% of the tax for the year; (ii) 100% of the tax shown on the return of the taxpayer for the preceding taxable year if a return showing a liability for tax was filed by the taxpayer for the preceding taxable year and the preceding year was a taxable year of 12 months; or (iii) 90% of the tax for the taxable year that would have been due based on the Act as it exists on the first day of the taxable year. Effective immediately.

Actions 
DateChamber Action
  2/4/2025HouseFiled with the Clerk by Rep. Curtis J. Tarver, II
  2/6/2025HouseFirst Reading
  2/6/2025HouseReferred to Rules Committee
  3/4/2025HouseAssigned to Revenue & Finance Committee
  3/6/2025HouseTo Tax Policy: Income Tax Subcommittee
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee

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