IL SB3657

Creates a tax credit for Illinois taxpayers who own and operate small businesses, effective for taxable years beginning January 1, 2010.

Provides $1,000 credit per eligible employee hired during the taxable year, or $1,500 per employee who was receiving unemployment benefits when hired.

Requires eligible employees to work at least 180 consecutive days and be full-time (30+ hours per week) to qualify for the credit.

Defines "small business" as an independently owned Illinois-based concern with fewer than 50 full-time employees or gross annual sales under $4,000,000, and requires taxpayer to have at least 50% ownership interest.

Allows unused credits to be carried forward for up to 5 years to offset future tax liability.