This credit has expired on July 25th 2013: http://www.revenue.state.il.us/legalinformation/regs/part100/100-2120.pdf
Jobs Tax Credit
To qualify for the credit:
- you must be an employer who increased the total number employed within the enterprise zone, river edge redevelopment zone, or foreign trade zone (or sub-zone) during your previous tax year by five or more full-time eligible employees beyond the total employed in the zone at the end of the base year,
- you must be an employer who employed eligible employees for 180 consecutive days during that tax year, and
- the number of employees must equal five or more.
•-Base year means the last tax year in which you properly claimed the Jobs Tax Credit or 1985, whichever is later.
•-Eligible employee is an employee who
- was certified by DCEO as eligible for services,
- was hired after the enterprise zone, river edge redevelopment zone, or foreign trade zone (or sub-zone) was designated or after the trade or business was located in the zone, whichever is later,
- was employed in the enterprise zone, river edge redevelopment zone, or foreign trade zone (or sub-zone), and
- was a full-time employee, working 30 or more hours per week.
•-Employed means that services were performed in the zone or that the zone was the base of operations for services performed.
Note - You must be an employer in order to take this credit. The Jobs Tax Credit cannot be passed through to partners of partnerships or shareholders of S corporations.