Small Business Job Creation Tax Credit (Illinois)
Last modified on February 12, 2015.
|Applies to States or Provinces||Illinois|
|Name||Small Business Job Creation Tax Credit (Illinois)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive, Personal Tax Incentives|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Implementing Sector|| State/Province
|Primary Website|| https://jobstaxcredit.illinois.gov/default.aspx
|Last Review|| 2014-09-15
The Illinois Small Business Jobs Creation Tax Credit program provides small business owners and non-profits with an extra boost to grow their business over the next four years. After creating one or more new, full-time positions that meet the eligibility requirements, small businesses can register online to receive a $2,500 per job tax credit. The program officially went live on July 1, 2012 and this is for new jobs created July 1, 2012 to June 30, 2016.
Eligible jobs are those that pay at least $10/hour or $18,200/annually and the position must be sustained for one full year from the hire date. DCEO (Illinois Department of Commerce and Economic Opportunity) has created an extremely user friendly website which allows for an applicant to register both their business and their newly created job(s) from the comfort of their home or office.
|Department||Department of Commerce and Economic Development|
|Division||Office of Entrepreneurship, Innovation and Technology|
|Address||500 East Monroe|
Authorities (Please contact the if there are any file problems.)
|Authority 1:|| 35 ILCS 25/10