Andersen Global
16 July 2026
Illinois Business Tax Planning Takes Sharper Focus After State Expands PTET Options, Decouples from QSBS, and Extends NOL Limits
The Illinois 2027 omnibus budget bill (S.B. 3019), signed into law by Governor J.B. Pritzker on June 16, 2026, enacts several income tax changes affecting businesses and their owners beginning with the 2027 tax year. The tax law changes will impact the Pass-Through Entity Tax (PTET), C corporations with net operating losses (NOLs), sellers of qualified small business stock (QSBS), and companies claiming the Illinois Research and Development (R&D) Credit.
