FOR IMMEDIATE RELEASE

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January 24, 2008

Dave Druker
Henry Haupt

Jesse White Announces Corporate Business Tax Amnesty Program

Illinois Secretary of State Jesse White today is reminding businesses that an amnesty program for all corporate businesses owing past due franchise tax or license fees to the state of Illinois is set to begin February 1, 2008. The amnesty program period will then remain in effect until the close of business on March 17, 2008.

The amnesty program, authorized by the Illinois General Assembly through Public Act 95-233, establishes terms through which participating corporations must complete an amnesty program petition form and pay all overdue franchise taxes, license fees, and standard filing fees. Corporations will then receive amnesty from all accrued penalty and interest payments due as well as any exposure to civil or criminal prosecution.

Those corporations owing past franchise taxes or fees that fail to comply with the amnesty program by March 17, 2008 will see the monthly interest rate charged on their delinquent franchise taxes double from 1 percent to 2 percent.

Further information regarding the corporate franchise tax amnesty program is available at the Illinois Secretary of State’s website Cyberdriveillinois.com, or by contacting the Secretary of State Department of Business Services offices in Chicago at 312-793-3380 or Springfield at 217-782-6961.