Ill. Mulls Extending R&D Tax Credit To 2026

Law360, New York (January 8, 2014, 2:18 PM EST) -- A bill introduced Tuesday in the Illinois legislature would extend the state's research and development tax credit, which is scheduled to expire in 2016, to 2026.

The credit is similar to the federal R&D tax credit and is good for up to 6.5 percent of an Illinois company's qualified research expenditures. Legislation proposing to extend the tax credit into the next decade was introduced in the Illinois House by Rep. Deborah Conroy, D-Elmhurst.

Although it was briefly repealed in 2003, Illinois' R&D credit has been around...
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