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July 11, 2024
Question

Illinois Dividend Subtractions

  • July 11, 2024
  • 1 reply
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Do Walgreens Boot Alliance still qualify for River Edge Development Zone Dividend subtractions on Illinois state income tax form 1299-C in 2023? What zone are they in?  How many years can I go back and submit an amended return for Illinois? 

    1 reply

    July 12, 2024

    https://investor.walgreensbootsalliance.com/static-files/45ea773c-4b3b-4d4c-8787-d77ad5667893 

     

     

    However. it is not the River Edge Redevelopment Zone portion of the 1299-C rather it is a High Impoact Business within a Foreign Trade Zone section. 

     

     

     

    Illinois is like federal 3 years. so if 2020 was extended with an original due date of 10/15/2021 you have until 10/15/2024

    if not it's too late

    https://tax.illinois.gov/content/dam/soi/en/web/tax/forms/incometax/documents/currentyear/individual/il-1040-x-instr.pdf