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.
Citadel 3rd major company to leave Illinois in 2 months
Hedge-fund firm Citadel is moving its headquarters to Miami. Citadel CEO Ken Griffin said many employees have asked to move out of Illinois.
Biden corporate tax plan would push Illinois rates to No. 5
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.
Pritzker again after up to $1B tax hike on 440,000 Illinois small businesses
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.
Illinois’ high corporate tax rate hurts jobs when businesses need COVID-19 help
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.
Progressive income tax study guide
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.
Indiana drops corporate tax rate as Illinois considers increasing it
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.
Why Illinois lawmakers can and should withdraw the progressive income tax hike
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.
Illinois moves Tax Day to July 15 in response to coronavirus spread
The change puts Illinois in line with the new federal deadline announced in response to the spread of the coronavirus.
Slowest-growing states have progressive income taxes
Fewer people want to live in states with progressive income taxes. So after 6 straight years of population loss, why would Illinois want to join them?