Final regulations governing Illinois’s withholding credit for minimum-wage workers were published Oct. 30 in the Illinois Register.
The regulations (86 Ill. Adm. Code 100.7390) took effect Oct. 13 and did not contain substantive changes from the proposed version, the state revenue department said in the register.
Employers with up to 50 employees may take the credit on the income tax withheld from the pay of qualifying employees, including tipped employees, who earn the minimum wage. The credit is calculated as a percentage of each increase in the Illinois minimum wage scheduled from 2020 to 2025, decreasing from 25% ...
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