Illinois R&D Income Tax Credit
Funds Illinois innovators through income tax credits for innovation in startups and established companies.
The Illinois R&D Income Tax Credit is a statutory, self-claimed tax credit equal to 6.5% of qualifying Illinois research and development expenses in excess of the taxpayer's base-period average. Codified at 35 ILCS 5/201(k), the credit mirrors the structure of the federal research credit under IRC §41 — requiring that qualified activities meet the four-part test of qualified purpose, technological…
Illinois income tax credit equal to 6.5% of qualifying research expenses above a base-period average, self-claimed annually with no pre-approval required from any state agency.
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Guides for this application
All guides →TRL Levels Explained for Deeptech Founders
Learn what TRL levels mean, how to estimate technology readiness, and how TRL affects grants, EIC Accelerator, SBIR/STTR, funding stage, and application evidence.
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A deeptech funding roadmap that maps startup funding stages to TRL, grants, SBIR/STTR, EIC Accelerator, pilots, VC, and scale-up evidence.
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