INC TX-ESTIMATED TAX Senate SponsorsSen. Celina Villanueva 2/6/2025SenateReferred to Assignments 35 ILCS 5/804from Ch. 120, par. 8-804Amends the Illinois Income Tax Act. In provisions concerning the estimated tax, provides that the required annual payment is the lesser of: (i) 90% of the tax shown on the return for the taxable year, or if no return is filed, 90% of the tax for the year; (ii) 100% of the tax shown on the return of the taxpayer for the preceding taxable year if a return showing a liability for tax was filed by the taxpayer for the preceding taxable year and the preceding year was a taxable year of 12 months; or (iii) 90% of the tax for the taxable year that would have been due based on the Act as it exists on the first day of the taxable year. Effective immediately. 2/6/2025SenateFiled with Secretary by Sen. Celina Villanueva 2/6/2025SenateFirst Reading 2/6/2025SenateReferred to Assignments