Enterprise Zone Incentives - Referral List

TAX EXEMPTIONS:

Sales Tax Exemption Certificate
Denise Roman 312-744-6502

Machinery & Equipment Sales Tax Exemption/Utility and Telecommunications Excise Tax Exemption
Mark Gauss – mark.gauss@illinois.gov - (217) 785-6193
Gabe Sanders – gabriel.Sanders@illinois.gov – (312) 814-9592
Mickey Harris – (217) 557-1821

LOCAL INCENTIVES:

Real Estate Transfer Tax
Real Estate Transfer Tax Exemption Homestead Program – Not available in Chicago
Shopstead Program–Not available in Chicago
Waiver of building and licensing fees – Not available in Chicago

TAX CREDITS:

EZ Investment Tax Credit
IL Dept. of Revenue - Form #1299-A – (800) 356-6302

INCOME TAX DEDUCTIONS:

Dividend Income Deduction
Individuals, corporations, trusts, and estates are not taxed on dividend income received from corporations doing substantially all of their business in an EZ.

Interest Deductions
Financial institutions are not taxed on interest earned from loans made to companies for development in a zone. The loans must be made for property, which qualifies for the EZ investment tax credit.

Contribution Deduction
Businesses may deduct, from taxable income, double the value of a cash or in-kind contribution to an approved DZO. An application is required to be submitted to DCEO for approval on the DZO as well as the proposed project.

RELATED CONTACTS:

IL Enterprise Zone Association