Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact firstname.lastname@example.org
DALLAS, Oct. 3, 2017 /PRNewswire/ -- On September 18, 2017, the state of Illinois enacted into law H.B. 162, reinstating the expired Economic Development for a Growing Economy (EDGE) Tax Credit Program until June 30, 2022. The purpose of the EDGE Tax Credit Program is to provide tax incentives that inspire companies to either build a new location or expand existing operations in Illinois. To partake in this program, taxpayers must apply for designation and enter into a written agreement with the Illinois Department of Commerce and Economic Opportunity (DCEO).
The reinstated EDGE Tax Credit Program has several important changes, including the items summarized below:
In addition to the updates above, to qualify for the EDGE Tax Credit, applicants must demonstrate that the project would not occur in Illinois but for the EDGE credit.
The reinstatement of the EDGE Tax Credit will be used to enhance economic development opportunities throughout the state of Illinois.
Ryan, an award-winning global tax services and software provider, is the largest firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multi-jurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a five-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 2,100 professionals and associates serves over 14,000 clients in more than 45 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.
TECHNICAL INFORMATION CONTACTS:
View original content with multimedia:http://www.prnewswire.com/news-releases/illinois-edge-credit-program-reinstated-300530405.html
©2017 PR Newswire. All Rights Reserved.