Small Business Tax Credit
Small Business Job Creation Tax Credit
The entrepreneurial spirit is alive and well in Illinois and must be nurtured. That's why I proposed and worked with the Illinois General Assembly to pass the Illinois Small Business Job Creation Tax Credit. The tax credit gives small business owners an extra boost to grow their business over the next year. After creating one or more new, full-time positions that meet the eligibility requirements, small businesses can register here to receive a $2,500 per job tax credit.
Based on feedback we received during the pilot program from the small businesses and entrepreneurs from across the State, we added a few key components. First, we extended the program to run from July 1, 2012 to June 30, 2016. The other new piece to this program is that PEO’s (Professional Employer Organizations) would be able to receive a tax credit based on their working relationship with an eligible business.
Put Illinois to Work businesses are still a key component to the Illinois Small Business Job Creation Tax Credit. If you hire your worker-trainees into full-time positions before June 30, 2016, no matter what size of business you operate, you will be eligible to receive a tax credit.
Feel free to explore our web site to learn about the Small Business Job Creation Tax Credit and the other resources we have available for small businesses and entrepreneurs. Register your new positions and obtain the credit without ever having to leave your office. Remember that tax credit eligibility begins with the date of hire and registration for the credit may be made at any time up until June 30, 2016. Your success as a small business owner is vital to Illinois' economic future and supporting entrepreneurship and innovation is one of my top priorities.
Governor Pat Quinn
Visit the Small Business Job Creation Tax Credit Registration Web site - Jobs Tax Credit