New year. New start. New state?
The latest Internal Revenue Service figures show Illinois residents are more likely to make that move, taking their wealth and tax dollars with them. Since Illinois in 2011 hiked its state income tax rate to almost 5 percent, a steadily increasing amount of wealth has vanished.
Illinois lost $4.75 billion in adjusted gross income in 2015, nearly double what was lost in 2011. This summer Illinois state leaders gave residents even more reason to skedaddle by making the “temporary” hike from 2011 “permanent,” costing a family of four earning $100,000 a year an additional $1,100.