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Published 2 days ago • loading... • Updated 2 days ago

Illinois Policymakers Should Think Twice Before Taxing GILTI

Summary by Tax Foundation

If Illinois’ budget is enacted as-is, Illinois will newly tax 50 percent of Global Intangible Low-Taxed Income (GILTI) as of tax year 2025, retroactively increasing tax burdens for US businesses and further hindering Illinois’ business tax competitiveness.

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Illinois Policymakers Should Think Twice Before Taxing GILTI

If Illinois’ budget is enacted as-is, Illinois will newly tax 50 percent of Global Intangible Low-Taxed Income (GILTI) as of tax year 2025, retroactively increasing tax burdens for US businesses and further hindering Illinois’ business tax competitiveness.

2 days ago

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Tax Foundation broke the news in 2 days ago on Friday, June 13, 2025.

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