Corporate income taxes have stifled Illinois’ pandemic recovery

By Ravi Mishra

05/07/2025

Illinois has the third-highest corporate income taxes in the nation. These are some of the most harmful taxes to economic growth, particularly in times of economic hardship.

TAGS: corporate income tax

Chicago has 2nd-highest commercial property taxes in U.S.

By Justin Carlson

07/07/2023

Chicago Mayor Brandon Johnson and progressive allies said the city can find fiscal flexibility by taxing big business. The city is already home to the second-highest commercial property taxes in the nation.

TAGS: corporate income tax

Citadel 3rd major company to leave Illinois in 2 months

By Dylan Sharkey

06/23/2022

Hedge-fund firm Citadel is moving its headquarters to Miami. Citadel CEO Ken Griffin said many employees have asked to move out of Illinois.

TAGS: Chicago, Citadel, corporate income tax, crime, Ken Griffin, outmigration

Biden corporate tax plan would push Illinois rates to No. 5

04/02/2021

Combine the corporate tax rate President Joe Biden wants to fund his infrastructure plan with Illinois’ tax, and the resulting rate would be 35.4% – fifth highest in the nation and second in the Midwest.

TAGS: corporate income tax, COVID-19, JB Pritzker, Joe Biden, small business

Pritzker again after up to $1B tax hike on 440,000 Illinois small businesses

By Bryce Hill

03/16/2021

Federal tax relief was championed so small businesses could better deal with COVID-19 economic impacts. Gov. J.B. Pritzker wants to undo that relief to keep $1 billion in state taxes from Illinois small businesses.

TAGS: corporate income tax, JB Pritzker, small business, tax hikes

Illinois’ high corporate tax rate hurts jobs when businesses need COVID-19 help

By Brad Weisenstein

02/09/2021

A new ranking puts Illinois’ corporate tax rates near the top. Still, Gov. J.B. Pritzker wants to extract $900 million more from corporations after failing to stop up to $1 billion in COVID-19 tax credits for small businesses.

TAGS: corporate income tax, COVID-19, jobs, loophole

Progressive income tax study guide

By Orphe Divounguy, Bryce Hill

08/27/2020

Illinois Gov. J.B. Pritzker calls it the “fair tax.” Opponents say it’s a “blank check” for irresponsible spending. Here’s what you need to know.

TAGS: ballot referendums, California, Connecticut, corporate income tax, fair tax, general election, graduated income tax, ILGA: Illinois General Assembly, Illinois, income tax, JB Pritzker, middle class, outmigration, Springfield

Indiana drops corporate tax rate as Illinois considers increasing it

07/17/2020

Illinois Gov. J.B. Pritzker’s ‘fair tax’ would raise Illinois business taxes to the highest in the nation as neighboring Indiana cuts taxes to draw businesses across the border.

TAGS: corporate income tax, Indiana, JB Pritzker, progressive income tax

Why Illinois lawmakers can and should withdraw the progressive income tax hike

By Bryce Hill

04/09/2020

State lawmakers in 2019 passed a progressive income tax amendment at the behest of Gov. J.B. Pritzker. Now that coronavirus has ravaged the state’s small business community, they should withdraw the amendment.

TAGS: corporate income tax, Don Harmon, fair tax, graduated income tax, Illinois Constitution, progressive income tax, small business

Illinois moves Tax Day to July 15 in response to coronavirus spread

03/25/2020

The change puts Illinois in line with the new federal deadline announced in response to the spread of the coronavirus.

TAGS: coronavirus, corporate income tax, COVID-19, income tax, JB Pritzker