TLDR: In Illinois, If you lose money you can’t use it to offset taxes in later years. In California, they have to get consent from you to prove that you’re gay for contracts. In Illinois, they just ram it up your butt without asking. We’re living in clown times. “The largest immediate tax hike in the budget is the extension of Illinois’ cap on deductions for net operating losses, which will raise corporate income taxes for companies recently losing money by $300 million in fiscal 2027, according to lawmakers. Illinois enacted the current cap beginning in the 2021 tax year to avoid large declines in corporate income tax revenue, as many companies began losing money during the pandemic. Rather than phase out the provision as scheduled, starting in tax year 2027 companies’ carryover deduction will be limited to 15% of net income or $500,000, whichever is greater. That figure increases to 30% in 2028, 50% in 2029, 65% in 2030 and 80% in 2031. Net-operating-loss deduction provisions are an important part of the state’s tax code that ensure businesses are treated fairly when it comes to taxation, regardless of changes in their profitability. Capping these provisions can lead to companies paying far higher effective tax rates than the state’s statutory corporate income tax rate. Because of this, every state tax code and the federal tax code contain provisions for net-operating-loss deductions.” This isn’t just Crypto. It’s everything. All money. Including Grandma’s pet food store and your online feet picture business. Sorry Grandma, pay up. Illinois is insane. Whole thing here: https://www.illinoispolicy.org/pritzker-signs-55-9-billion-budget/(Autism Capital 🧩)