Illinois Corporate Franchise Tax Amnesty Information Sheet Business Services

Pursuant to Public Act 101-0009, the Illinois General Assembly has amended the Franchise Tax and License Fee Amnesty Act of 2007. Following are some of the provisions pertaining to the new amnesty program:

Who is eligible for new amnesty program?
All domestic (Illinois) corporations, foreign corporation authorized to transact business in Illinois, and all foreign corporations that have been transacting business in Illinois without authority are eligible to take part in the amnesty program.

When is the amnesty program?

What tax relief is granted under the amnesty program?