Illinois § 5-60 Pass through entity

Illinois Statutes

§ 5-60 — Pass through entity

Illinois·Topic GOVERNMENT·Ch. 35 REVENUE·Act 35 ILCS 10/ Economic Development for a Growing Economy Tax Credit Act.·Art. Article 5 - Economic Development for a Growing Economy Tax Credit Act

(a)The shareholders or partners of a Taxpayer that is a Pass Through Entity shall be entitled to the Credit allowed under the Agreement.

(b)The Credit provided under subsection (a) is in addition to any Credit to which a shareholder or partner is otherwise entitled under a separate Agreement under this Act. A Pass Through Entity and a shareholder or partner of the Pass Through Entity may not claim more than one Credit under the same Agreement.

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(a) The shareholders or partners of a Taxpayer that is a Pass Through Entity shall be entitled to the Credit allowed under the Agreement. (b) The Credit provided under subsection (a) is in addition to any Credit to which a shareholder or partner is otherwise entitled under a separate Agreement under this Act. A Pass Through Entity and a shareholder or partner of the Pass Through Entity may not claim more than one Credit under the same Agreement.

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