Agritourism Liability Insurance Tax Credit

For taxable years beginning on or after January 1, 2022, and ending on or before December 31, 2023, any individual or entity that operates an agritourism operation in the State during the taxable year shall be entitled to a tax credit against the tax imposed by subsections (a) and (b) of Section 201 equal to the lesser of 100% of the liability insurance premiums paid by that individual or entity during the taxable year or $1,000.

How Do Taxpayers Qualify for the Credit?

Agritourism operation an individual or entity that carries out agricultural activities on agricultural property and allows members of the general public, for recreational, entertainment, or educational purposes, to view or enjoy those activities.

Agritourism activities includes, but is not limited to, the following:

Agritourism activities DO NOT include the following activities:

How Much Are the Credits?

The Illinois credit equals the smaller of:

The state caps total credits at $1 million each calendar year.

What Happens to Unused Credits?

Taxpayers can carryforward unused Illinois credits for up to 5 years after the excess credit year.

When Do the Credits Sunset or Expire?

The Illinois agritourism liability insurance credit is set to sunset or expire for tax years ending on or before December 31, 2023.

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