Introduction to the Illinois Franchise Tax and Its Importance to Your Company
By Jordan Goodman & Jesse Feinstein
Business Advice and Financial Planning,
July 2025
The Illinois Franchise Tax is an extremely complex tax that places unique burdens on corporations conducting business in Illinois. Based on our experience, many corporations incorrectly calculate their obligations, leading to the over or underpayment of their tax liabilities. Neither of these scenarios is desirable, and as such, this article is designed to familiarize you with the basics of the Franchise Tax and reveal a few common problems we at Kilpatrick have identified and resolved over the years.
Introduction to the Illinois Franchise Tax and Its Importance to Your Company
By Jordan Goodman & Jesse Feinstein
Corporate Law Departments,
March 2025
The Illinois Franchise Tax is an extremely complex tax that places unique burdens on corporations conducting business in Illinois. Based on our experience, many corporations incorrectly calculate their obligations, leading to the over or underpayment of their tax liabilities. Neither of these scenarios is desirable, and as such, this article is designed to familiarize you with the basics of the Franchise Tax and reveal a few common problems we at Kilpatrick have identified and resolved over the years.
Spot an error in your article? Contact Celeste Niemann at cniemann@isba.org. For information on obtaining a copy of an article, visit the ISBA Newsletters page.
Select a Different Author
