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Expert Analysis

Illinois Tax Talk: The Franchise Tax

By Christopher Lutz (October 10, 2018, 1:11 PM EDT) -- The Illinois franchise tax is a weird tax. It is imposed on the privilege of exercising a franchise in Illinois or, in the case of foreign corporations, for the authority to transact business in the state. It is administered by the Illinois Secretary of State, not the Department of Revenue, and is measured by paid-in capital. Knowing the ins and outs of the franchise tax is a must for any corporation doing business in the state....

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