Illinois Compiled Statutes 35 ILCS 5/202 – Net Income Defined
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 35 ILCS 5/202
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
In general. For purposes of this Act, a taxpayer’s net income for a taxable year shall be that portion of his base income for such year which is allocable to this State under the provisions of Article 3, less the standard exemption allowed by Section 204 and the deduction allowed by Section 207.