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.
When it comes to taxes, everyone works for the government. Illinoisans worked 120 days – from Jan. 1 until April 30 – to pay the taxes they owe to federal, state and local governments.
Under a 2015 agreement between the Department of Commerce and Economic Opportunity and The Advisory Board Co., the state gave a tax credit worth millions of dollars in exchange for 55 jobs.
With bipartisan support, members of the Illinois House adopted a resolution opposing the internet streaming tax proposal – which might not even be legal — in the Senate’s “grand bargain.”
If voters approve proposals to raise St. Clair County sales taxes by a combined 2 percent, people in some parts of St. Clair County would face total sales taxes of over 11 percent.