IL HB4381

Creates a 100% deduction for corporations equal to the portion of Illinois net income earned as a result of a manufacturing process, as defined in Section 2-45 of the Retailers' Occupation Tax Act.

The deduction applies to the corporation's Illinois net income for the taxable year, calculated without regard to this deduction provision.

The deduction is exempt from the automatic sunset provision that applies to other tax modifications under Illinois law.

Takes effect immediately upon becoming law.