IVCA Provides Updates for State and Federal Legislative Issues - 08.30.17 - School Funding, Angel Tax Credit, Privilege Tax |
IVCA Provides Updates for State and Federal Legislative IssuesUPDATE provided by Stricklin & Associates on August 30, 2017: ACCORD REACHED ON SCHOOL FUNDING Privilege Tax on hold Thanks in large part to the diligence of IVCA members who contacted their elected officials and let them know the harm which would be done to the entrepreneurial infrastructure of Illinois, measures to apply a 20% tax to capitals gains earned by investment managers, such as embodied in SB 1719 and HB 3343, did not pass during this session of the Illinois General Assembly. Those measures may be revived at a later date and in your conversations with your local state Representative and Senator please continue to help them understand the negative impact this would have on the Illinois economy. |