//
archives

Illinois Income Tax

This category contains 8 posts

Illinois Witnessed $2.2 Billion Tax Income Drop in 2010

(Springfield, IL) — March 28, 2011. Tax money coming into state and local governments in Illinois fell sharply — by $2.2 billion dollars between 2009 and 2010, according to the U.S. Census Bureau. Continue reading »

Gov. Pat Quinn Says He Will Sign Illinois Income Tax Increase Bill

(Springfield, IL) — January 13, 2011. Governor Pat Quinn said he would give his signature to a 67% personal income tax increase. Continue reading »

Gov. Pat Quinn Agrees to 75% Illinois Income Tax Increase to Balance Illinois Budget

(Springfield, IL) – January 7, 2011. Governor Pat Quinn and top legislative Democrats in Springfield say they have an agreement that will erase Illinois’ $15 billion deficit, send more money to Illinois schools and limit state spending for three years. Continue reading »

Illinois Budget: Senate President John Cullerton Says Evanston to Keep its State Income Tax Money; Pat Quinn’s Budget Gets a $300 Million Hole

(Chicago, IL) — April 5, 2010. Governor Pat Quinn has proposed cutting the share of the Illinois income tax that is shared with towns and cities by $300 million to help close the state’s gaping budget deficit. Illinois Senate President John Cullerton (D-Chicago), however, on Friday told Evanston Mayor Elizabeth Tisdahl not to worry: the … Continue reading »

Illinois Budget: Greg Hinz Notes that Pat Quinn’s 1% Tax Hike Raises $2.8 Billion–$1.5 Billion More than Needed to Avoid School Cuts

(Chicago, IL) — March 11, 2010. Only in Springfield do you find this kind of “new math”. Governor Pat Quinn is proposing a 1% Illinois income tax increase surcharge to avoid $1.3 billion in cuts to local schools. What the Governor neglected yesterday to mention in his budget address is that 1% would raise $2.8 … Continue reading »

Illinois Budget: GOP State Rep. Jim Sacia Says Pat Quinn’s 33% Income Tax Increase Not Big Enough; Other Lawmakers Respond

(Springfield, IL) — March 11, 2010. The state faces a staggering $13 billion deficit and Governor Pat Quinn’s budget plan calls for $2 billion in cuts, $4 billion in short-term borrowing and a 33 percent increase in the state income tax rate to cover state costs. Illinois’ current income tax rate stands at a flat … Continue reading »

Illinois Legislature: State Senator Larry Bomke, State Rep Pat Verschoore See No Hope for Governor Pat Quinn’s Income Tax Plan This Year

(Springfield, IL) — February 9, 2010. The primary is over, but the waiting is not for Illinois lawmakers. The Illinois House and Senate return to Springfield this week, and lawmakers have low expectations.  Many legislators say they doubt much of anything will happen during this legislative session. State Senator Larry Bomke (R-Springfield) said the state … Continue reading »

Illinois Budget: State Tax Revenue Drops $14.3 Billion Nationwide–Illinois 1 of 10 States with Double Digit Decline in Personal, Corporate, Sale Taxes

(Chicago, IL) — November 30, 2009. State tax revenues nationwide to continue to evaporate. Tax revenues dropped at least $14.3 billion nationwide in the most recent fiscal quarter, according to a study by the Nelson A. Rockefeller Institute of Government. The Rockefeller Institute compiled data from states and it shows major tax sources were $119.7 … Continue reading »

Submit your email address and be among the first to receive our posts by e-mail as soon as they are published. It's free.

David Ormsby, Editor

Follow

Get every new post delivered to your Inbox.

Join 139 other followers