You may take this credit if:

• you have entered into an agreement with DCEO, either under the Economic Development for a Growing Economy Tax Credit Act or the Corporate Headquarters Relocation Act;
• you meet the conditions stated in your agreement with DCEO;
• your business is engaged in interstate or intrastate commerce; and
• you are taking the credit for tax years beginning on or after January 1, 1999.

The EDGE credit

• cannot exceed the incremental income tax, which is the total amount withheld during the tax year from the compensation of new employees who are employed at a project that is the subject of the agreement,
• amount allowed during the tax year, plus the total of all amounts allowed in prior years, cannot exceed 100 percent of the total amount spent on approved costs (defined in the agreement) by the taxpayer during all prior tax years,
• is determined on an annual basis,
• cannot exceed the amount of income tax for the tax year,
• may be applied against income tax in no more than 10 tax years for businesses that qualify under the Economic Development for a Growing Economy Tax Credit Act
• may be applied against income tax in more than 10 tax years, but no more than 15 tax years for businesses that qualify under the Corporate Headquarters Relocation Act, and have undertaken a qualifying project within the time frame specified by DCEO, and apply no more than 60 percent of the maximum credit per year.

You must attach a copy of the certificate of verification you received from the director of DCEO or a copy of your agreement with DCEO.

For more information regarding the EDGE Program, applications, and tax credit, you may call DCEO at 1 800 252-2923, or write to:

Illinois Department of Commerce and Economic Opportunity

First Stop Business Information Center of Illinois

620 East Adams, Third Floor

Springfield, Illinois 62701

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