As a result of the U.S. Supreme Court’s decision in South Dakota v. Wayfair Inc., most online purchases in Illinois will now be subject to automatic collection of the state’s 6.25 percent use tax.
Illinois is expected to raise an additional $200 million in sales tax revenue due to changes in the new state budget and the U.S. Supreme Court’s decision in South Dakota v. Wayfair Inc. Lawmakers should offset this expansion of the sales tax by ending a $200 million harmful tax on business investment.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
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.
Since 2010, Illinois has lost on net 2.6 percent of its taxpayers and dependents, along with billions of dollars of taxable income, dwarfing the rates of out-migration of other Midwestern and neighboring states.
Although Illinois’ top earners make more than most of their regional counterparts, Illinois’ bottom quarter of earners have the lowest wages in the Midwest
Illinois prisons held 150 percent of their maximum capacity in 2014, the highest rate of crowding of any prison system in the country, according to the Bureau of Justice Statistics.