If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
The state has chosen to coddle some big businesses while punishing the small.
Illinois lawmakers passed hundreds of bills in 2017, but enacted no real reforms to boost the state’s economy, rein in the cost of government or provide relief to taxpayers.
Reducing barriers to entry for small businesses is a crucial step toward spurring economic growth in Illinois.
Two sides, one city.
Sitting astride the Fox River, the city of Geneva is home to a bustling downtown district in a state that’s notoriously tough on small businesses.
A high cost of doing business and little reason to hope for reform can be enough for Illinois’ small businesses to look elsewhere for success.
The uncomfortable truth is that no matter how many hands they shake, most General Assembly members aren’t really friendly to small businesses.
Illinois currently has the highest start-up fees in the country, further burdening the already-unfriendly business climate in the state.
Illinois entrepreneurs face myriad regulations that impede starting or running a business. Compliance with those regulations is costly; more importantly, it is almost impossible for entrepreneurs to know every regulation that affects their businesses. The uncertainty of not knowing the law creates a regulatory minefield and takes away opportunity for Illinoisans.
The franchise tax is complicated and confusing, and compliance wastes the time and economic resources of Illinois’ businesses.