Illinois Film Production Tax Credit Summary
- Income tax offset.
- Sunset date: January 1, 2027
- Credit must be utilized during year of transfer or within the 5-Year carryforward period of the transferor.
- No recapture for the transferee.
- Certificated and transferable tax credit (one-time)
- No tax credit usage limitations apply.
Additional Info About Film Credits
Legislation
35 ILCS 16
Illinois Film Office
Peter Hawley, Film Commissioner
100 W. Randolph Street, Suite 3-400
Chicago, IL 60601
312.814.3600
film@illinois.gov
www.film.illinois.gov
Investing
Interested in investing in film credits to boost Illinois’s economy?
Illinois Low Income Housing Tax Credit Summary
- Applicable against the Illinois corporate income tax and individual income tax.
- May offset 100% of taxpayer’s liability.
- Excess credits carryforward for 5 years. No carryback.
- Credits are subject to recapture only in the case of fraud.
- Credits are transferable, not allocable
Investing
Interested in investing to create more affordable homes in Illinois?
Monetizing
Interested in monetizing your Illinois low income housing tax credits?
Illinois Historic Rehabilitation Tax Credit Summary
- The Illinois Historic Rehabilitation Tax Credit is an incentive available for the rehabilitation of qualified historic structures.
- Provides a tax credit equal to 25% of eligible rehabilitation expenditures.
- Is applicable against corporate and individual income taxes.
- Can generally offset up to 100% of current year tax liability.
- Excess credits can be carried forward for 5 years.
- Credits are not subject to recapture.
Investing
Interested in investing to preserve historic buildings in Illinois?