tax

The tax rate went up to 8.65% on July 1 with the start of the new fiscal year. #taxes

With one of the lowest state estate tax thresholds in the country, Samuel Karnick, senior fellow at The Heartland Institute, warns Illinois’ outdated estate tax continues to threaten the future of generational farms, even as the federal government moves to ease the burden. #tax

A provision in the bill would allow donors to lower their tax liability by donating to accredited scholarship-granting organizations, with a credit up to $5,000 or 10% of their adjusted gross income. #legislation

Treasurer Frerichs Eclipses $5 Billion In Investment Earnings for State Portfolio (Springfield, IL) - Illinois Treasurer Michael Frerichs announced that he has made more...

On July 1, the state will raise taxes on short-term rentals, sports wagering, telecommunications, tobacco and vaping products. #taxes

“By leveraging the Low-Income Housing Tax Credit to spur millions in private development, we’re offering real housing solutions for working families, seniors, and veterans while creating jobs in construction and revitalizing communities up and down the state.” #taxcredits

"Democrats keep claiming to care about working people, but if you look at this budget, it’s clear they are completely out of touch with the middle and working class" Rep. Sheehan said. #taxes

“This budget, pushed through under Governor Pritzker’s leadership—or lack thereof—includes more than $800 million in new taxes that directly impact hardworking Illinoisans and small businesses, while neglecting to tackle the serious financial issues that continue to cripple our state,” Gartner said. #spending

“Trump and House Republicans think tax cuts for the wealthy are more important than feeding our children,” said Governor JB Pritzker. #snap

“The Democrats are doing what they always do – waiting until the last minute to present a budget and force through more tax increases to pay for their out-of-control spending." #budget