ITB 11-38: Illinois income tax treatment for holding companies

Insurance Tax Bulletin

Illinois House Bill 2955 is currently on the governor's desk for signature (sent June 24th) and expected to become law during 2011. While this Bill contains several corporate income tax provisions, of particular interest to the insurance industry is a clarifying provision on the proper tax treatment for holding companies in unitary groups that contain more than one unitary filing group (i.e. a group containing both insurance and noninsurance entities).



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