Illinois Tax Credit Update

Nov 13, 2015, 15:35 ET from Ryan

DALLAS, Nov. 13, 2015 /PRNewswire/ -- The Illinois Department of Commerce & Economic Opportunity ("Department") issued a press release on November 10, 2015 stating that Governor Rauner's Administration is taking steps forward with the Economic Development for a Growing Economy (EDGE) Tax Credit, as well as re-instituting Film Tax Credit approvals, both of which were suspended for new projects on June 2, 2015. Actual EDGE and Film Tax Credits for new projects will still not be certified or able to be claimed until the state's Fiscal Year 2016 budget is enacted.

Since taking office, the Administration has been implementing various policy revisions with respect to the EDGE Tax Credit, including:

  • No longer supporting "Special EDGE" agreements;
  • No longer providing tax credits for job retention;
  • Requiring that tax credits can only be obtained for jobs created above a baseline of all existing employees located within the state, rather than just the baseline of employees located at the specific project location; and
  • Prohibiting more than one tax credit on the same facility.

The Department will also commence certification of the 49 Enterprise Zones the Illinois Enterprise Zone Board approved in August 2015. Enterprise Zones will become effective January 1, 2016.

About Ryan
Ryan is an award-winning global tax services firm, with the largest indirect and property tax practices in North America and the seventh largest corporate tax practice in the United States. With global headquarters in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 2,100 professionals and associates serves over 12,000 clients in more than 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at

Logo -


Christopher J. Girod

Ziya M. Hajiyev