***House Bill 162 was signed into law in September 2017 and extends the EDGE program through June 30, 2022. After a thorough review of the new provisions, DCEO has submitted revised rules to the Joint Committee on Administrative Rules (JCAR). This move allows the Department to begin accepting new applications immediately. Please note that any new agreements entered into during the JCAR process will be subject to amendments based on final rule approval. A copy of DCEO's submitted rules can be found here.
The EDGE program provides an incentive to businesses to support job creation, capital investment and improve the standard of living for all Illinois residents. The non-refundable corporate income tax credit is calculated as a percentage (not to exceed 100%) of the expected income tax withholdings of new job created in the state. Tax credits are available to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in newly created jobs. Non-refundable credits can be used against corporate income taxes to be paid.
Tax credits amounts are calculated on a case-by-case basis. EDGE credits are processed on an annual basis, for up to 10 years, based upon employment ramp-up plans outlined by the business and agreed to by the Department.
For more information contact CEO.EDGE@illinois.gov.