- The tax credit must directly contribute to Illinois Production Spending.
- Illinois Production Spending includes tangible, personal property and services purchased from Illinois vendors and compensation paid to Illinois resident employees.
- Illinois vendors qualify as businesses that have Illinois addresses.
- An Illinois resident qualifies as someone who has a valid Illinois state ID or drivers license, issued prior to commencement of production.
- Compensation maximum is $100,000 for each Illinois resident employee.
- Applicants must submit a Diversity Plan.
- Must spend at least $50,000 in Illinois Production Spending for a project 29 minutes or under.
- Must spend at least $100,000 in Illinois Production Spending for a project 30 minutes or over.
- Receipts and financial materials must be processed by a certified public accountant.
Complete Set of IFO Tax Credit Rules and Requirements
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