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  1. The TaxpayersFederation of Illinois is the state’s most respected non-partisan state and local tax and fiscal policy advocacy organization. We conduct policy research, educate public officials and others on current issues, advocate for a responsible tax structure that encourages economic growth, and support efficient delivery of ...

  2. TFI Tax Facts: Net Operating Losses in Illinois and Around the Country: Matching Taxes to the Business Cycle . May 2024 (77.4) The Net Operating Loss (NOL) deduction is a frequent target of those seeking to increase state revenues by “closing corporate loopholes” or “making businesses pay their fair share.” NOLs are not loopholes, however, and have been adopted by the fed

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