Get the POWER of PRO!
Support Center > Knowledge base> Article: Illinois Jobs Tax Credit

Illinois Jobs Tax Credit

Article ID: 34751 Email Print
Question
Illinois Jobs Tax Credit

Answer
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.
Definitions:
  • Base year means the last tax year in which you properly claimed the Jobs Tax Credit or 1985, whichever is later.
  • Eligible employeeöis 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.

related articles

Article Details
Views: 289 Created on: Jun 15, 2013
Date updated: Nov 12, 2014

Poor Outstanding