Illinois is one of few states with ‘Death Tax.’ Bill would make it highest in U.S.
Increasing the estate tax would hurt family farms and businesses, drive wealth and investment out of Illinois. Most states are ending their ‘death taxes.’
Bipartisan bills would ease ‘death tax’ on Illinois family farms
Selling family farmland to pay Illinois’ estate tax could end if a pair of bills take root in the General Assembly.
Madigan’s rules kill reform efforts
A post-mortem on Illinois’ 2017 regular legislative session shows missed opportunities for taxpayer savings.
How Trump’s tax proposals would affect Illinois
The corporate tax reforms under President Donald Trump’s proposed tax plan could strengthen Illinois’ position as a home for businesses, but the state’s uncompetitive income, property and death tax policies would put its residents at an even greater disadvantage with respect to other states if the president’s plan passes.
Federal tax changes could pressure Illinois to repeal death tax
A repeal of the federal estate tax would make it imperative that Illinois get rid of its own state death tax to avoid losing even more residents and income to other states.
Illinois death tax hits family farms where it hurts
Illinois’ estate tax only generates about $300 million in revenue, while potentially costing the state more than $1.5 billion in annual GDP growth.
Illinois tax code favors corporate farms over family farms
While neighboring states are making themselves friendlier for farmers, Illinois keeps its unfair death tax in place.
Illinois tax code punishes entrepreneurs
Uniquely burdensome taxes and fees make Illinois unfriendly to entrepreneurs, and drive businesses and families out of state.
Budget deal should include repealing Illinois’ economic loss leaders
Illinois’ death tax, corporate franchise tax and LLC fees cause disproportionate economic harm compared to how much tax revenue they generate.
Repealing Illinois’ economic loss leaders
State lawmakers from both parties are advancing legislation to repeal three of Illinois’ most costly and misguided policies.
