Illinois Compiled Statutes (Tax)
35 ILCS 5/202
Net Income Defined
Official textilga.gov
Sec. 202. Net Income Defined. In general. For purposes of this Act, a taxpayer's net income for a taxable year shall be that portion of his base income for such year which is allocable to this State under the provisions of Article 3, less the standard exemption allowed by Section 204 and the deduction allowed by Section 207. (Source: P.A. 92-846, eff. 8-23-02.)
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Nearby sections (19 sections)
- 5/101 · Short Title
- 5/102 · Construction
- 5/103 · Renumbered Internal Revenue Code Provisions
- 5/201 · Tax imposed
- 5/201.1 · (Repealed)
- 5/201.5 · State spending limitation and tax reduction
- 5/202 · Net Income Defined
- 5/202.3 · Net income attributable to the period prior to July 1, 1989…
- 5/202.4 · (Repealed)
- 5/202.5 · Net income attributable to the period beginning prior to the…
- 5/203 · Base income defined
- 5/204 · Standard exemption
- 5/205 · Exempt organizations
- 5/206 · Tax credits for coal research and coal utilization equipment
- 5/207 · Net Losses
- 5/208 · Tax credit for residential real property taxes
- 5/208.1 · (Repealed)
- 5/208.5 · (Repealed)
- 5/209 · Tax Credit for "TECH-PREP" youth vocational programs