Illinois Employers Take Note: Key Employment Law Changes Taking Effect in 2027

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Illinois Employers Take Note: Key Employment Law Changes Taking Effect in 2027

Illinois employers face two fairly significant changes to state employment law beginning January 1, 2027.

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FinCEN Permanently Ends Beneficial Ownership Reporting for U.S. Companies and Will Delete Previously Filed Data

Publication Highlight

FinCEN Permanently Ends Beneficial Ownership Reporting for U.S. Companies and Will Delete Previously Filed Data

On August 11, 2026, the Financial Crimes Enforcement Network (FinCEN) issued a final rule permanently eliminating the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA).

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Illinois Decouples from Federal QSBS Exclusion and Further Limits Corporate NOL Deductions

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Illinois Decouples from Federal QSBS Exclusion and Further Limits Corporate NOL Deductions

On June 16, 2026, Governor Pritzker signed Public Act 104-0468 into law. The Illinois Act makes two significant income tax changes: it decouples Illinois from the federal qualified small business stock (“QSBS”) gain exclusion under Code Section 1202 and further restricts the use of corporate net operating loss (“NOL”) carryover deductions.

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2026 Construction Forecast: The Only Thing Certain is Uncertainty

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2026 Construction Forecast: The Only Thing Certain is Uncertainty

As 2026 dawns, it is natural to consider the outlook for construction in the coming year.

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December 2007/Publication

Europe: King Canute Trying to Halt Tide of Private Equity Investment

December 2007/Publication

The Illinois Radon Awareness Act

December 2007/Publication

Business Seller's Due Diligence

December 2007/Publication

Municipal Bonds: State Tax Exemption Hangs in the Balance

Steven Gustafson

Partner

Tax Planning and Structuring

Financial Services

October 2007/Publication

How Not to Purchase an Outparcel

July 2007/Publication

No Relief Behind the Counter: Does Federal Law Protect a Pharmacist Who Refuses to Fill Birth Control Prescriptions?

David Michael

Managing Partner

Chair, Human Resources and Employment Law Practice

Human Resources and Employment

Litigation

July 2007/Publication

Venture Capital Transactions in the United States and India

June 2007/Publication

Illinois Legislature Moves to Capture Tax Revenues

Gerard Fellows

Partner

Chair, Tax Compliance Practice

Tax Planning and Structuring

Tax Controversy

April 2007/Publication

New Ruling Requires Harassment To Be "Targeted"

David Michael

Managing Partner

Chair, Human Resources and Employment Law Practice

Human Resources and Employment

March 2007/Publication

Venture Capital Financing in the United States and Canada - Part 2