On June 16, 2025, Illinois enacted H.B. 2755, a sweeping tax bill that introduces significant changes impacting corporate taxpayers, pass-through entities, and manufacturers operating in the state. Below is a summary of the most notable provisions you should be aware of: Beginning with tax years ending on or after Dec. 31, 2025, Illinois will allow a 50% deduction for GILTI (Global Intangible Low-Taxed Income).This replaces the prior 100% dividend-received deduction (DRD) for taxpayers with...

Illinois Sales & Use Tax Update: Leases and Digital Services As of January 1, 2025, Illinois will implement significant changes to its...