Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2022 | Updated by FindLaw Staff
§ 3.07. Income. “Income” means adjusted gross income, properly reportable for federal income tax purposes under the provisions of the Internal Revenue Code, 1 modified by adding thereto the sum of the following amounts to the extent deducted or excluded from gross income in the computation of adjusted gross income:
(A) An amount equal to all amounts paid or accrued as interest or dividends during the taxable year;
(B) An amount equal to the amount of tax imposed by the Illinois Income Tax Act 2 paid for the taxable year;
(C) An amount equal to all amounts received during the taxable year as an annuity under an annuity, endowment or life insurance contract or under any other contract or agreement;
(D) An amount equal to the amount of benefits paid under the Federal Social Security Act 3 during the taxable year;
(E) An amount equal to the amount of benefits paid under the Railroad Retirement Act 4 during the taxable year;
(F) An amount equal to the total amount of cash public assistance payments received from any governmental agency during the taxable year other than benefits received pursuant to this Act;
(G) An amount equal to any net operating loss carryover deduction or capital loss carryover deduction during the taxable year; and
(H) An amount equal to any benefits received under the Workers' Compensation Act 5 or the Workers' Occupational Diseases Act 6 during the taxable year.
“Income” does not include any distributions or items of income described under subparagraph (X) of paragraph (2) of subsection (a) of Section 203 of the Illinois Income Tax Act 7 or any payments under Section 2201 or Section 2202 of the American Recovery and Reinvestment Act of 2009. 8
Cite this article: FindLaw.com - Illinois Statutes Chapter 320. Aging § 25/3.07. Income - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-320-aging/il-st-sect-320-25-3-07/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)