Tax Credit Proposed in IL

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Reassigned to committee, H.B. 3927 creates an income tax credit for licensed wine manufacturers and craft brewers in an amount equal to 50% of the qualified costs incurred by a qualified taxpayer during the taxable year, not to exceed $1,500; provides that the tax credit shall be awarded on the basis of costs related to the purchase of crops used in the manufacture of beer or wine that are grown and harvested in the state.

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