Illinois shoppers will pay an average 8.81% in sales taxes on presents this holiday, the eighth most nationwide. Some Cook County communities will charge up to 11.5%.
Retailers should expect a record number of holiday shoppers this weekend. Shoppers in Illinois will get hit with some of the nation’s highest sales taxes.
Surging gasoline prices mean Illinois is getting a boost in sales taxes from fuel, but that’s because drivers are paying the extra $200 a year. Most states don’t charge sales tax on gasoline, but Illinois adds it atop other taxes – taxing the taxes.
Illinois’ combined state and average local retail sales tax rate topped 8.8% in 2022. That’s the 8th-highest in the nation and the highest in the Midwest.
Sales tax revenue is up from pre-pandemic levels, in part because Illinois is now forcing online retailers to charge local sales tax rates as high as 10.25%. No tax breaks this Cyber Monday.
Illinoisans pay one of the highest sales tax rates in the nation when local and state sales taxes are averaged. The average rate of 8.83% was up slightly from a year earlier.
Monthly sales tax collections in Illinois continued sharp declines compared to one year earlier amid strict COVID-19 restrictions. Neighboring states with more open economies fared better.
America’s War on Poverty has been an abject failure. Nearly $12 trillion and 60 years later, official poverty rates remain basically unchanged. While the nation waged a well-intentioned assault on poverty, it inadvertently launched a far more sinister war: on dignity. While attempting to eradicate poverty, America created countless government welfare programs. In doing so,...