Illinois DOR Issues Guidance on Investment Partnership Pass-Through Entity Tax Liability

The Illinois Department of Revenue (DOR) issued a General Information Letter providing guidance on how an investment partnership should calculate its pass-through entity tax liability. DOR held that pass-through entity tax computed by a partnership for a taxable year is determined from the portion of the partnership’s base income as allocated to Illinois under the provisions of Article 3 of the Illinois Income Tax Act. [Il. Dep’t of Revenue, IT-25-0011-GIL, 10/24/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.