This explains how the new law defines “income” using an inclusive approach rather than a fixed list. The key takeaway is that any real economic gain is taxable unless specifically ...

The Illinois corporate tax rate applies to certain businesses operating in the state and consists of a flat income tax rate and a separate personal property replacement tax. As of 2025, the corporate ...

# “The Business License fee is effectively a tax on gross turnover, meaning businesses are taxed regardless of profitability. A corporate income tax, which is based on net profits, is generally more ...