Budget + Tax

Illinois retailers taxed $186M by capping sales tax credit

Illinois retailers taxed $186M by capping sales tax credit

A cap on the retailers’ sales tax credit will effectively hikes taxes on Illinois retailers by $186 million. Retailers are already facing razor-thin margins, but the record $53.1 billion state budget required $1.1 billion in new taxes.

By Patrick Andriesen

Illinois state gas tax to hit 47 cents July 1

Illinois state gas tax to hit 47 cents July 1

After July 1, Illinois motorists will be averaging $184 more in state gas taxes since Gov. J.B. Pritzker doubled them in 2019. Illinois motorists already pay the second-highest gas taxes in the nation, and inflation adjustments just take them higher.

By Dylan Sharkey