Illinois Historic Rehabilitation Tax Credit

Illinois Historic Rehabilitation Tax Credit

  • The Illinois Historic Rehabilitation Tax Credit is an incentive available for the rehabilitation of qualified historic structures.
  • Provides a tax credit equal to 25% of eligible rehabilitation expenditures.
  • Is applicable against corporate and individual income taxes.
  • Can generally offset up to 100% of current year tax liability.
  • Excess credits can be carried forward for 5 years.
  • Credits are not subject to recapture.