Pass through entity

Official textilga.gov

Sec. 5-60. Pass through entity.

# (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. (Source: P.A. 91-476, eff. 8-11-99.)

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Nearby sections (25 sections)

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10/5-25 · Review of Application
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10/5-35 · Relocation of jobs in Illinois
10/5-40 · (Repealed)
10/5-45 · Amount and duration of the credit
10/5-50 · Contents of Agreements with Applicants
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10/5-56 · Annual report
10/5-57 · Supplier diversity goals; reports
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10/5-60 · Pass through entity
10/5-65 · Noncompliance; notice; assessment
10/5-70 · Annual report
10/5-75 · Evaluation of tax credit program
10/5-77 · Sunset of new Agreements
10/5-80 · Adoption of rules
10/5-85 · (Repealed)
10/5-90 · Program terms and conditions
10/5-105 · (Amendatory provisions; text omitted)
10/5-110 · (Amendatory provisions; text omitted)
10/5-115 · (Amendatory provisions; text omitted)
10/5-120 · (Amendatory provisions; text omitted)
10/999-1 · Effective date

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