State Legislative Updates

Illinois’ Budget Bill (Senate Bill 689)

Illinois — Illinois’ Budget Bill (Senate Bill 689) provides for the establishment of an amnesty program for all taxpayers owing any franchise tax or license fee imposed by Article 15 of the Business Corporation Act. The amnesty program will be for a period between October 1, 2019 and November 15, 2019 and will apply to franchise tax or license fee liability for any tax period ending after March 15, 2008 and on or before June 30, 2019. The bill states that the Secretary of State shall adopt rules as necessary to implement the program.

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