Illinois R&D Tax Credit Summary
IL R&D Tax Credit Available

Yes - Expires on December 31, 2021

Eligible Entities

C-Corporations, S-Corporations, LLCs, Partnerships

Deadline for Tax Filing

Due with Illinois Tax Return

Data Required to Compute Credit
  • Claim Period Qualified R&D Expenses (QREs)
  • QREs for Prior 3 Years

Credit Carryforward

5 Years

IL R&D Credit Summary

The R&D tax credit equals:

  • 6.5% on the excess of IL qualified research expenses over the average amount of QREs for the three preceding taxable years.

IL Research Tax Credit

Important Links and Forms:

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Assessment of your Federal
and IL Research Credit

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