Ill. Admin. Code tit. 14 § 524.550
Current through Register Vol. 49, No. 2, January 10, 2025
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).
Ill. Admin. Code tit. 14, § 524.550