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Illinois Economic Development for a Growing Economy (EDGE) Tax Credit

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Illinois Economic Development for a Growing Economy (EDGE) Tax Credit

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Economic Development For a Growing Economy Tax Credit Program (EDGE)

The EDGE program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another State. The program can provide tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs. The non- refundable credits can be used against corporate income taxes to be paid over a period not to exceed 10 years.  To qualify a company must provide documentation that attests to the fact of competition among a competing state, and agree to make an investment of at least $5 million in capital improvements and create a minimum of 25 new full time jobs in Illinois.  For a company with 100 or fewer employees, the company must agree to make a capital investment of $1million and create at least 5 new full time jobs in Illinois.

Illinois Economic Development for a Growing Economy (EDGE) Tax Credit

 

 

 

 

 


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Article Details
Views: 727 Created on: Jun 15, 2013
Date updated: Aug 21, 2015
Posted in: STATES, Illinois

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