5 Key Takeaways | The Illinois Franchise Tax: A Trap for the Unwary – and Even the Wary | Kilpatrick

The Illinois Franchise Tax is an archaic set of laws that often traps well-intentioned taxpayers in the uncomfortable position of not being in compliance and/or not in good standing with the State of Illinois. Kilpatrick’s Jordan Goodman and Jesse Feinstein recently conducted a webinar, as part of the firm’s “Next in Tax” Quarterly Series, covering the basics of general compliance and exploring some of the more technical nuances associated with Paid in Capital and the Allocation Factor. Additionally, they provided solutions for maintaining or achieving compliance and offered key information on how to take advantage of the franchise tax amnesty period being offered from October 1, 2025, through November 15, 2025.

* The opinions expressed are those of the attorneys and do not necessarily reflect the views of the firm or its clients. This video is for general information purposes and is not intended to be and should not be taken as legal advice. See less –