Code Section
35 ILCS 5/201, et seq.

Who is Required to File
Individuals, estates, and trusts; Partnerships are not taxable

Rate
3% of taxable net income imposed on all taxpayers; An additional personal property replacement tax of 1.5% of net income is imposed on partnerships, trusts, and S corporations.

Federal Income Tax Deduction
No

Federal Income used as Basis
Yes